Dewey Wants To Pay Bonus To Remaining Employees
Dewey still has 48 employees who are working on winding down the bankrupt law firm. And Dewey's lead lawyer on the bankruptcy, Albert Togut, wants to set aside $700,000 for their bonus.
Judge Martin Glenn has balked at this latest request from Togut and has said that he will not approve the plan unless he is given more details. But Togut's argument in support for the bonus plan is that it makes sense to pay the remaining employees a bonus to make them stay on and finish the work. "There is every reason for the people remaining to leave. The only reason for them to stay is this application.", said Togut in the Manhattan bankruptcy courtroom on Wednesday afternoon according to Am Law Daily.
The bonus proposal will have to win the approval of both Judge Glenn and the U.S. Trustee's Office, which is the organization charged with overseeing the bankruptcy.