The saga from Dewey & LeBoeuf seems to be never ending these days and with this bit of news it just keeps getting more interesting. It is rough to estimate but there are probably only 50 partners remaining at the firm out of the 300 that were employed by the firm at the end of 2011. Staff members and associates have been laid off over the past couple of weeks and pension partners now retired are considering placing the firm in involuntary bankruptcy.
There was a management committee made up of five people working for the firm not too long ago. Last week there was one person from that committee left standing but now no one is left standing. That final member left Dewey for Arnold & Porter on Wednesday. Despite all of this news, a spokesperson for the law firm claims that the firm ‘is not formally closed.
“In my view, this company has to be put into a bankruptcy,” said attorney Annette Jarvis of Dorsey & Whitney. Jarvis is responsible for representing 51 retired pension partners from LeBoeuf Lamb Greene & MacRae prior to its merger into Dewey & LeBoeuf. Jarvis claims that she has begun work on the possibility of involuntary bankruptcy filing by the firm.