Now in Legal Rebels:
Posted Apr 23, 2012 11:44 am CDT
Greenberg Traurig has confirmed holding preliminary discussions regarding lawyers at Dewey & LeBoeuf.
Dewey has lost nearly 70 partners this year and is reportedly considering a prepackaged bankruptcy that would allow a merger partner to avoid Dewey debts and unfunded pension obligations. News reports identified Greenberg Traurig as a possible merger partner, along with two other law firms.
Greenberg’s statement doesn’t use the word “merger.” Bloomberg News, the Wall Street Journal (sub. req.) and the Am Law Daily quote from the statement. “We have had preliminary discussions relating to lawyers at Dewey LeBoeuf but we have made no commitments, have not reached agreements and have had no involvement in the firm’s financial situation or relationships,” the statement says.
Dewey also released a statement saying it is “considering various paths, including continuing to operate as an independent global law firm and a strategic combination with another leading law firm, the latter of which could take many forms.”
Dewey partners Martin Bienenstock and Bruce Bennett are leading the team considering the prepackaged bankruptcy. According to the New York Times DealBook blog, Bienenstock “is known for his cerebral approach to issues, fond of devising innovative if sometimes complicated solutions.”