Sedgwick asked a California bankruptcy judge on Thursday to approve a nearly $1.6 million claw-back settlement with 45 former partners who received equity payouts as the San Francisco-based law firm slowly failed throughout 2017.
As Sedgwick seeks to settle its claims against some former equity partners, 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.
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 ...
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