Bloomberg reported three former top executives of Dewey & LeBoeuf avoided potential prison terms after a Manhattan jury failed to agree on whether they lied to investors in the run-up to the largest law-firm bankruptcy in history.
The Wall Street Journal reported that emails will play a starring role in the criminal trial over the collapse of the Dewey & LeBoeuf law firm.
The Wall Street Journal reported two former Dewey & LeBoeuf executives settled a civil suit brought by the defunct firm’s bankruptcy trustee to recover nearly $22 million.
Manhattan District Attorney Cyrus R. Vance, Jr., announced the indictments of the former chairman, CFO, executive director and a client relations manager at bankrupt law firm Dewey & LeBoeuf, alleging the defendants defrauded and stole from the firm’s lenders, investors and others.
Reuters reported that Washington D.C. law and lobbying firm Patton Boggs is working with restructuring lawyers as it deals with waning revenue and continues to discuss a merger with a larger law firm.
The Wall Street Journal reported that a federal bankruptcy judge approved the liquidation plan for Dewey & LeBoeuf, setting the stage for many creditors to begin recovering some of the hundreds of millions they are owed.
When law firm Dewey & LeBoeuf filed for Chapter 11 protection, it was obligated to its secured creditors, among many others, led by JP Morgan on a $75 million line of credit facility. Jeffrey Wurst explains what led to Dewey’s collapse and offers advice regarding key indicators of a potential creditor’s fiscal irresponsibility.