Wall Street Journal carries the story. Excerpt:
The trustee liquidating failed New York law firm Dewey & LeBoeuf LLP filed a $21.8 million complaint Wednesday against two of the firm's leaders, former Executive Director Stephen DiCarmine and former Chief Financial Officer Joel Sanders.
The complaint outlines a number of alleged financial irregularities at the firm—whose management is the focus of an ongoing criminal investigation—including $1.2 million loans to Mr. DiCarmine and Mr. Sanders. The suit seeks to claw back lavish compensation packages the pair received in the years leading up to Dewey's 2012 collapse.
According to the complaint, filed in bankruptcy court in Manhattan, "payments under the Employment Contracts to DiCarmine and Sanders totaled $15,900,000 over six years—with an opportunity for unlimited discretionary bonuses—an astronomically generous arrangement for law firm administrators, and far in excess of the reasonably equivalent value of the services contracted for or provided."