Dewey Faces Tough Battle For Creditor Recovery

Law360, New York (May 29, 2012, 12:00 AM EDT) -- Now that Dewey & LeBoeuf LLP has taken the critical step of filing a Chapter 11 petition, the firm faces the challenge of recovering as much money as possible for creditors in the tricky scenario of a law firm bankruptcy, where the assets are most often the people who have long abandoned ship, experts said.

Following the defection of more than half its partners, debt-ridden Dewey & LeBoeuf LLP filed for bankruptcy Monday night in Manhattan bankruptcy court, listing debts of $245 million and assets of...
To view the full article, register now.