ANALYSIS-Unusual debt may haunt a troubled Dewey & LeBoeuf

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An unusual $125 million bond issuance by Dewey & LeBoeuf two years ago is likely a big reason the law firm is in serious financial trouble, five law-firm management experts said Monday. The bond, purchased by institutional investors in 2010, was one of only a handful of private placement bonds ever issued by a law firm, and it marked a departure from the typical sources of law-firm funding — banks and partner capital. In this case, the investors were insurance companies, including some clients of the firm, said Dewey & LeBoeuf partner Richard Shutran.

via ANALYSIS-Unusual debt may haunt a troubled Dewey & LeBoeuf.

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