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Dewey Settlement Contributors Named in Step Toward Recovery

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The wind-down team of defunct law firm Dewey & LeBoeuf revealed the identities of partners participating in a proposed $71.5 million settlement on Thursday, and disclosed how much money each partner had agreed to pay, Reuters reported on Friday. The settlement, if approved, would be the first major recovery for creditors who claim they are owned more than $500 million. Partners are agreeing to contribute back compensation -- between $5,000 and $3.5 million each -- in exchange for being released from potential clawback claims. The amounts contributed are pegged to the partners' compensation at the firm.