Consultant: More Big Law Firms Will "Implode"

Feb. 27 (Bloomberg Law) -- Bruce MacEwen, a law firm consultant and publisher at AdamSmithEsq.com, tells Bloomberg Law's Lee Pacchia that "we will see some more name brand [law] firms implode" in 2013. The defunct New York law firm Dewey & LeBeouf, which dissolved in 2012, saw its bankruptcy plan approved by a Manhattan U.S. Bankruptcy Court judge on Wednesday. It is the largest U.S. law firm ever to go out of business, with more than 1,400 lawyers on its staff at its peak. Dewey "didn't do anything wrong that a lot other firms don't do, they just did all of them to an extreme," says MacEwen.
`Time Is of the Essence' for Greece to Reach Deal: Lew
35:48 - U.S. Treasury Secretary Jacob J. Lew speaks about the U.S. and global economies, Greece's debt crisis and International Monetary Fund reforms. Lew speaks at news conference at the 2015 World Bank Group/IMF Spring Meetings in Washington. (Source: Bloomberg)
  • A Penthouse Perspective on NYC Real Estate
  • Will the Comcast-Time Warner Cable Merger Ever Happen?
  • Quirky CEO: Why We Partnered With Mattel