Former Dewey chairman faces suit for loan repayment
Steven Davis arriving for his arraignment at Manhattan Criminal Court in March 2014. Photograph by Carlo Allegri/Reuters.
Dewey & LeBoeuf’s former chairman Steven Davis hasn’t seen an end to his legal troubles.
In a suit filed this week, Citibank says Davis is responsible for repayment of a loan for his capital contribution to the law firm, the New York Law Journal (sub. req.) reports. The bank is seeking nearly $400,000, according to an affidavit (PDF) filed in the case.
The loan requires annual principal reduction payments of $72,000, the affidavit says.
Davis reached a deferred prosecution agreement with New York prosecutors earlier this month in a case alleging former Dewey officials misled lenders and bond buyers about the firm’s collapse.
