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Citing `Liquidity Constraints,’ Legal Issues,
Dewey & LeBoeuf LLP Declares Bankruptcy

May 30, 2012, 4:00 AM

NEW YORK—Dewey & LeBoeuf LLP May 28 voluntarily filed for Chapter 11 protection after the firm failed to find a strategic partner in the wake of partner resignations and an investigation into alleged improper activity by a senior manager (In re Dewey & LeBoeuf LLP, Bankr. S.D.N.Y., No. 12-bk-12321).

The firm intends to wind down its operations and liquidate, instead of emerge from bankruptcy in accordance with a restructuring plan. Liquidation will occur over a period of several months, a company spokesman told BNA in a May 29 email message.

Court filings describe the firm’s aspirations of attaining ...