Less than 24 hours after Dewey & LeBoeuf became the largest law firm in U.S. history to seek bankruptcy protection, a judge rebuffed the Dewey estate’s request to use cash collateral held by primary secured creditor JPMorgan Chase to fund the work of those responsible for winding down the firm’s operations.
Meanwhile, the defunct firm’s holdout stakeholders continue to find new homes, while a group of former Dewey partners circles the wagons against any possible claims by the estate.
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