The High Court has today (9 June) handed down its judgment in favour of Barclays Bank in a long running battle to secure repayment of a $540,000 loan together with interest from former Dewey & LeBoeuf partner Londell McMillan.
In a case that was closely watched by the industry as it tackled issues relating to liability in partner loan programmes, the dispute arose when Barclays negotiated and agreed a scheme around the end of 2005 with legacy Dewey Ballantine. After Dewey & LeBoeuf filed for Chapter 11 bankruptcy in 2012, the bank sought to recover some $56m in outstanding loans to over 200 partners, including McMillan. In 2013 Barclays filed a claim against McMillan and other former Dewey lawyers Lester Charles Landgraf, Lewis Rosenbloom, and Ellias Farrah.
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