Dewey creditors begin to line up as Axa business demands lost rent

Creditors of Dewey & LeBoeuf’s London and Paris arm are lining up to claim dues from the defunct firm, with a subsidiary of insurer Axa demanding more than £600,000 from the failed firm’s estate.

SCI Vendôme Bureaux, part of the French insurance giant, is claiming £605,028 for an unpaid commercial lease related to the US firm’s French office.

The Paris-based property manager has instructed Monkam Solicitors founder Alain-Christian Monkam to represent it in its claim, with the company and other creditors now waiting for Dewey’s UK administrators to issue their proposals by the end of July.

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BDO partners Mark Shaw and Shay Bannon, the joint administrators of the UK LLP, are set to issue their statement of proposals to creditors before the end of the month, with the deadline for producing this falling eight weeks after the firm filed for administration in the UK, which was on 28 May (29 May 2012).

A meeting of creditors is then required within 10 weeks of the filing.

Last month Dewey’s US bankruptcy team filed a court motion to reject its global office leases including its Paris base at 51 Rue Pierre Charron.

Meanwhile, in London, Dewey’s City landlord, Prudential, is expected to emerge as one of the creditors owed the most by the UK LLP, which covered the London and Paris offices.

Monkam declined to comment. Axa and BDO were unavailable for comment.