Dewey Burned $43 Million In 6 Weeks Prior To Bankruptcy

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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 lender, JP Morgan Chase. Bill notes that this episode could impact the way large firms interact with their lenders and make short term financing more expensive. Bill also comments on a venue battle looming over the bankruptcy case for educational publisher Houghton Mifflin.

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