In the latest settlement struck by Howrey trustee Allan Diamond, a group of former Howrey leaders and a law firm that initially advised the defunct firm on its bankruptcy have agreed to pay $1.85 million, the Wall Street Journal reported today. The deal will see Wiley Rein LLP (whose restructuring lawyers are, in an unrelated development, separating from the firm) contribute $1 million to Howrey’s coffers, according to documents filed Monday in U.S. Bankruptcy Court in San Francisco. It will also see the firm’s onetime dissolution committee, including former chairman Robert Ruyak, chip in another $850,000. The result of more than a year of negotiations, the settlement still requires a court’s approval.
