Bankruptcy

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News & Analysis as of May 23, 2013

Deloitte: Turnarounds and Democracy Don't Mix [Video]

by Bloomberg Law on 4/26/2013

April 26 (Bloomberg Law) -- William Snyder, co-head of the corporate restructuring group at Deloitte, talks with Bloomberg Law's Lee Pacchia about a new survey his group conducted on executive management during corporate...more

Consultant: More Big Law Firms Will "Implode" [Video]

by Bloomberg Law on 2/27/2013

Feb. 27 (Bloomberg Law) -- Bruce MacEwen, a law firm consultant and blogger at AdamSmithEsq.com, tells Bloomberg Law's Lee Pacchia that "we will see some more name brand [law] firms implode" in 2013. The defunct New York law...more

A Better 2012 for BigLaw (With Big Asterisks) [Video]

by Bloomberg Law on 2/7/2013

Feb. 7. (Bloomberg Law) -- Law firm profits at a selection of the nation's largest firms increased by 4.3 percent in 2012, but "we do have some concerns about what drove the results," Dan DiPietro, chairman of Citi Private...more

BigLaw's Banker: I've Got a "Robust" List of Firms That May Fail [Video]

by Bloomberg Law on 10/26/2012

Oct. 26 (Bloomberg Law) -- Dan DiPietro, chairman of The Law Firm Group at Citi Private Bank, says he has a "somewhat robust" watch list of law firms that may fail in the coming months. "In this kind of economic...more

Dewey Burned $43 Million In 6 Weeks Prior To Bankruptcy [Video]

by Bloomberg Law on 6/14/2012

June 14 (Bloomberg Law) -- Bloomberg News Bill Rochelle tells Lee Pacchia that defunct law firm Dewey & LeBoeuf LLP spent $43 million in cash over the six weeks prior to their bankruptcy filing, much to the chagrin of secured...more

Avoiding Law Firm Implosions by Mandating Firms to Undergo Annual Stress Tests

by Jerome Kowalski on 5/13/2012

Good Lord! Please make it stop. We can’t take witnessing any more carnage or scandal from the Dewy & LeBoeuf front! The worst part, in some respects, is that clients, laterals and law firm lenders are now looking past...more

Dewey Need to Take a Pledge?

by Jerome Kowalski on 4/12/2012

Dewey & LeBoeuf continues to be daily battered in the media. Too many of the slings and arrows now being shot Dewey’s way are self inflicted. Those with the most to lose seem to be trying to get this ship of state back on...more

The Dummy’s Guide to Forensic Analysis of Law Firm Financial Accounting and Reporting While Leaving the PPP in the Commode

by Jerome Kowalski on 5/9/2011

How is your law firm doing? You may not be getting a completely accurate answer by simply looking at your firm’s annual financial statements. Law firm financial reporting is an art form and sometimes, a bit of a black...more