Consultant: Crisis of Confidence in Leadership Sunk Dewey & LeBoeuf
May 31 (Bloomberg Law) — Kent Zimmermann, consultant at the Zeughauser Group, and Bill Rochelle from Bloomberg News talk with Bloomberg Law’s Lee Pacchia about law firm Dewey & LeBoeuf’s bankruptcy filing in the Southern District of New York. Kent believes Dewey’s bankruptcy case will be prolonged and messy. Bill says that former Dewey partners will probably be sued for fraudulent transfers. In addition, Bill expects the Dewey case to be influenced by a recent decision in the Coudert Brothers bankruptcy case stating that departing partners need to pay the profit on work they take with them to their old firm.