Dewey & LeBoeuf Said to Be Considering Bankruptcy
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Dewey & LeBoeuf LLP is weighing options, including a pre-packaged bankruptcy, to avert the New York-based law firm’s collapse after losing dozens of partners over several months, a person familiar with the matter said.
A team led by partners Martin Bienenstock and Bruce Bennett is considering a pre-pack -- a bankruptcy plan approved by creditors -- that could lead to a merger with another U.S. firm, said the person, who asked not to be identified because he isn’t authorized to discuss the plans publicly. The team is also examining what happens if the firm shuts down, the person said.