In the latest round of defections to hit Dewey & LeBoeuf, three litigation partners from the firm’s London outpost, including the office’s managing partner, are leaving for the London office of Morgan, Lewis & Bockius, that firm announced Thursday. Separately, Jones Day announced that it has hired a top New York-based Dewey private equity partner.
The losses which come days after Dewey management told the remaining partners via memo that they are free to pursue other options and not obligated to stick with the ailing firm as it tries to save itself in some form push the number of partners to leave since the start of the year to nearly 90. The defections also come as Dewey’s standing with its lender banks to which it owes a reported $75 million and, in turn, its ability to meet payroll and pay other bills continues to weaken. While firm leaders insist a bankruptcy filing is not in their plans, they have not yet identified a viable alternative.
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