Dewey Floated 2-Week Cash Lifeline To Aid Ex-Partner Deal

Law360, Wilmington (July 31, 2012, 8:53 PM EDT) -- A New York bankruptcy judge on Tuesday granted Dewey & LeBoeuf LLP a cash lifeline to sustain the cratered law firm for two more weeks as it attempts to cobble together a critical settlement with former partners.

U.S. Bankruptcy Judge Martin Glenn signed off on an order extending Dewey’s access to its lenders’ cash collateral — which was set to expire Tuesday — until Aug. 15. The extension will provide a window for Dewey to determine whether enough of its partners have accepted a recent settlement...
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