Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Dewey Proposals to Hire Advisers Assailed by Trustee

June 30 (Bloomberg) -- Law firm Dewey & LeBoeuf LLP was assailed by the U.S. trustee who supervises bankruptcies over nine proposals to hire advisers, including the law firm of Togut Segal & Segal LLP, and a six-week budget of $7 million for paying the firms.

Proskauer Rose LLP may have conflicts as it hired former Dewey lawyers, public relations firm Sitrick & Co. may not be needed for bankrupt Dewey’s liquidation, and several firms’ duties would overlap, Tracy Hope Davis said in a filing in U.S. Bankruptcy Court in Manhattan yesterday.

Dewey’s hiring applications don’t accord with bankruptcy rules and don’t disclose enough essential information, the trustee said. A violation of limits for professional fees could also cut off Dewey’s access to use of funds made available by lenders for the liquidation, Davis said.

Albert Togut, Dewey’s lead bankruptcy adviser, and Michael Sitrick, a spokesman, didn’t immediately respond to e-mails seeking comment on the trustee’s objections sent after normal business hours.

The case is In re Dewey & LeBoeuf LLP, 12-12321, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net

To contact the editor responsible for this story: David E. Rovella at drovella@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.