John Altorelli, co-chair of the U.S. finance practice at DLA Piper in New York, has become at least the third former Dewey & LeBoeuf partner to file for personal bankruptcy protection, the American Lawyer reported today. The chapter 7 filing by Altorelli in Bridgeport, Conn., on Nov. 25 comes after a recent ruling in Dewey’s own bankruptcy case precluding ex-partners from invoking a key defense against clawback claims by the defunct firm’s liquidating trustee. On Oct. 30, U.S. Bankruptcy Judge Martin Glenn ruled that ex-Dewey partners like Altorelli could not invoke the “value” defense in fighting claims filed by Diamond as he oversees the liquidation of Dewey’s estate.
