Home

Dewey Moves to Terminate 25 Office Leases across the World
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

On Wednesday, Dewey & LeBoeuf sought termination of 25 of its office leases covering at least 14 offices in the United States, and overseas offices in Beijing and Abu Dhabi. According to papers filed in the U.S. Bankruptcy Court in Manhattan, Dewey has submitted that with only a few personnel left in New York, Dewey had no use for the leases except for a sublease for the New York office.

The trustee for the firm requested U.S. Bankruptcy Judge Martin Glenn to date the rejection of the leases retroactively to May 28, as that was the date on which the firm filed for bankruptcy. The firm also wanted to abandon its property in the mentioned offices except the artwork in Houston and Los Angeles. In its court papers, Dewey said “Simply put, because the leases are not necessary for the wind down of business, they offer no benefit to the estate.”

If the bankruptcy court accepts Dewey’s argument and changes the date of termination of the leases to May 28, then the landlords would create problems for the landlords to recover rent. Landlords could well object to such a measure, as the time lost without rent could have been used to secure other tenants or put to productive use. Dewey’s landlords also form some of the biggest unsecured creditors of the firm.

  
What
Where


Currently Paramount Group, which is the landlord of Dewey’s New York office space, has a claim of $3.78 million and is the second-biggest unsecured creditor of the firm. Dewey’s landlord in Washington, the Property Group Partners is owed $830,789. The landlord had sued Dewey prior to the firm filing for bankruptcy.

Landlords of Dewey fear that bankruptcy laws can make it difficult for them to successfully challenge any act to their prejudice and to recover their dues. Major landlords did not yet comment on the issue.

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!!






 

RELEVANT JOBS

Civil Litigation Case Manager

USA-CA-Los Angeles

Tenants Law Firm seeks to add a Case Manager to its Litigation team, which works on various housing ...

Apply now

Civil Litigation Paralegal

USA-CA-Los Angeles

Position Description: Tenants Law Firm seeks a paralegal to work with its Litigation team, which ...

Apply now

100% Remote Civil Litigation Attorney (Flexible Schedules)

USA-CA-Los Angeles

Tenants Law Firm is looking to hire experienced Civil Litigation ATTORNEYS to work 100% re...

Apply now

Paralegal

USA-TX-Dallas

Galloway\'s Dallas Office is seeking a Paralegal. Tasks include but not limited to conducting p...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Venture Capital Attorney

USA-CA-San Diego

San Diego office of a BCG Attorney Search Top Ranked Law Firm seeks corporate business attorney with...

Apply Now

Real Estate Attorney

USA-CA-San Diego

San Diego office of a BCG Attorney Search Top Ranked Law Firm seeks transactional real estate attorn...

Apply Now

Experienced Health Care Attorney

USA-ME-Portland

Portland office of a BCG Attorney Search Top Ranked Law Firm is seeking health care attorney with 5-...

Apply Now

SEARCH IN ARCHIVE

To Top