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US law firm Dewey and Leboeuf collapses

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US law firm Dewey and Leboeuf collapses
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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.