WSJ: Dewey's Liquidation Plan Wins Approval

The Wall Street Journal reported that a federal bankruptcy judge approved the liquidation plan for Dewey & LeBoeuf, setting the stage for many creditors to begin recovering some of the hundreds of millions they are owed from the largest law-firm collapse in U.S. history.

The Journal said that the liquidation plan had the backing of Dewey’s creditors, including lenders who hold liens on some $250 million in bank and bond debt and who have funded the bankruptcy proceedings thus far using their cash collateral.

To read the full WSJ article click here.

For Monitor coverage of the Dewey collapse: Caveat Lessor: Lessons Learned from the Dewey Collapse, By Jeffrey A. Wurst, Esq.

Previously on monitordaily: Court Approves Dewey Settlement With Partners, Estate, published October 15, 2012

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