Reuters reported that a federal judge approved a settlement that requires XL Specialty Insurance Company and former chairman Steve Davis of defunct law firm Dewey & LeBoeuf to pay $19.5 million to resolve claims with a trustee that leaders mismanaged the firm.

According to the Reuters story, Davis has agreed to pay $511,145 and Dewey’s insurer has agreed to pay $19 million to the firm’s estate in exchange for a release from future litigation.

To read the entire Reuters story click here.

Previously on monitordaily.com WSJ: Dewey’s Liquidation Plan Wins Approval, February 28, 2013