Dewey & LeBoeuf has until the end of the month to negotiate debt problem

Reports are circulating that troubled New York law firm Dewey & LeBoeuf is facing serious debt problems, and has until the end of the month to negotiate extending a $100 million revolving credit line with lenders. The firm has already drawn down about $75 million - which is about $40 million more than was last publicly reported by The Wall Street Journal in March. The firm’s is battling to cope with its debt problems alongside mass departures from the partnership, and is reportedly canvassing a range of options including a bankruptcy filing or a merger.

Dewey & LeBoeuf has until the end of the month to negotiate debt problem online.wsj.com Fri, Apr 27, 2012