Professor Hillman Comments on Dewey & LeBoeuf Crisis for New York Law Journal
Professor Robert Hillman commented for New York Law Journal on the options facing the distressed law firm of Dewey & LeBoeuf. Such firms often look for merger partners, and if that fails, attempt to downsize, he said. Orderly dissolution is seldom an option in crisis situations, Professor Hillman stated, but firms try to avoid bankruptcy whenever possible.
"There are not many winners when you get into bankruptcy and the clear losers are usually the former partners because they are the last to get paid," Hillman said.
Robert Hillman is a Professor of Law and holds the Fair Business Practices and Investor Advocacy Chair at UC Davis School of Law. He is a scholar in the fields of international transactions, securities regulation, and corporate and partnership law.