A group of creditors owed millions of dollars by Dewey & LeBoeuf LLP is seeking to sue its former top three managers, saying that the trio "engaged in rampant self-dealing" that led to the law firm's demise, the Wall Street Journal reported today. The move comes from the company's unsecured creditors' committee—staffing agencies, car services and other trade creditors that extended credit to Dewey. Those unsecured creditors, which also include federal pension regulators, have filed up to $500 million in claims against the failed law firm and are unlikely to recover all the money they are owed. The request to pursue claims against Dewey's former leaders, filed on Monday, seeks to recover money from about $50 million in management-liability coverage and other insurance policies held by the law firm. A hearing on the unsecured creditors' motion is set for Nov. 29.
