Home

The Anatomy of Dewey’s Demise
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...


With all the media attention Law Giant Dewey and LeBoeuf’s slow painful demise has received, its as if we are receiving a pre-mortal autopsy: we are getting an update on each of Dewey’s organs as they fail one by one.

The company stands right now to liquidate their assets in order to avoid the high fees associated with filing for bankruptcy. They may, however, still be forced to file for bankruptcy.

Meanwhile, they are being sued by many of the non-legal staff who were fired.

  
What
Where


Heavy hitting partners are being continually snatched up by other firms. Charles Langdraf is among the latest, who joined Arnold & Porter last Wednesday. He was one of the top insurance lobbyists in Washington. He of course praised his new employer in terms of the virtues his old one lacked:

“It’s the perfect platform for my practice. It’s a great Washington, D.C. firm that has great depth and and breadth in financial services and a legislative practice that’s well rounded.”

The firm has also made eyes at Landgraf: “I have known Charley for a number of years. He’s a strong lawyer and a terrific colleague. I look forward to practice with him,” said Tom Mulch, chairman of Arnold & Porter.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Dewey meanwhile is being sued by the Pension Benefit Guaranty Corp which is trying go to force Dewey to terminate its retirement plans., It claims that that of the current and future retirees covered by Dewey’s pension plans, 1,776 were underfunded by a total of $80 million.

“The current loss of revenue-generating partners and Dewey’s debt loan has culminated in the imminent demise of Dewey,” said PBGC in its suit.



Dewey’s greatest resources are its partners, 2/3 of which have defected or have otherwise left since January. “At this point, if you went down all of its partners who were still here, I wouldn’t be surprised if they were leaving n the next day or so,” said one Dewey partner, who preferred to remain anonymous.

Other law firms are grabbing up the great talent that Dewey can’t afford to keep on. Said Alan Waldenberg, of Schulte, Roth & Zabel, who recently picked up a group of private equity and real estate attorneys from Dewey, “We don’t do a lot of laterals, but these guys were too good to be true. They give us more depth in the private equity space.” He also added, “There was obviously a feeding frenzy in Dewey lawyers in the last six months.

As for how many Dewey can lose and still be Dewey, that remains to be seen.



 

RELEVANT JOBS

Mid-Level to Senior Litigation Associate - New York, NY

USA-NY-New York City

Job Title:  Mid-Level to Senior Litigation Associate Role:  Associate in Employment Lit...

Apply now

Associate Attorney

USA-CO-Littleton

An established and longstanding Littleton law firm is seeking an associate attorney to join our...

Apply now

Manager, Education Civil Rights Alliance

USA-CA-Oakland

National Center for Youth Law  The National Center for Youth Law (NCYL) works to amplify you...

Apply now

Senior Director, Education

USA-CA-Oakland

Education Team  NCYL\'s Education team engages in education justice work in partnership with...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Commercial Litigation Associate Attorney

USA-MA-Boston

Boston office of a BCG Attorney Search Top Ranked Law Firm seeks a commercial litigation associate a...

Apply Now

Foreclosure Attorney

USA-GA-Atlanta

Atlanta office of a BCG Attorney Search Top Ranked Law Firm seeks foreclosure attorney with experien...

Apply Now

Foreclosure Attorney

USA-TN-Memphis

Memphis office of a BCG Attorney Search Top Ranked Law Firm seeks foreclosure attorney with experien...

Apply Now

SEARCH IN ARCHIVE

To Top