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US law firm Dewey and Leboeuf collapses


US law firm Dewey and Leboeuf collapses

One of the largest law firms in the US, Dewey and Leboeuf has filed for bankruptcy protection after failing to find a merger partner. The announcement has shocked the industry with pundits comparing the scale of the collapse to that of Lehman Brothers bank in 2008. Dewey has listed liabilities amounting to $500 million.

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