Failed Sedgwick Seeks Clawback Settlement with Ex-Partners
Failed law firm Sedgwick asked a California bankruptcy judge to approve a nearly $1.6 million claw-back settlement with 45 former partners who received equity payouts as the San Francisco-based firm slowly failed throughout 2017, reports Bloomberg Law.
The firm also said there may be viable breach of fiduciary duty claims against other ex-partners who are not part of the proposed settlement, according to Bloomberg’s Roy Strom.
“The partial compromise comes more than eight months after Sedgwick filed for Chapter 11 bankruptcy protection and a year-and-a-half after the 85-year-old firm ceased operations. The firm said confirmation of the deal could lead to the end of its bankruptcy case,” Strom writes.
Read the Bloomberg Law article.
