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Large New York-based multinational law firm tried to end its leases after it filed bankruptcy

Recently, the bankrupt law firm Dewey and LeBoeuf tried to terminate 25 leases. Fourteen of these leases were throughout the United States and the rest were in other countries according to a June 20, 2012 Thomson Reuters article.

As the company shuts down, it has realized that it had no use for the office space, except for part of its New York office. In court papers, the firm said that the offices “offer not benefit to the estate.”

The controversial part of the legal firm’s request is how it wishes to terminate its leases. Dewey and LeBoeuf wants the termination to be retroactive to May 28, 2012, the date that the firm filed for bankruptcy. This would prevent its landlords from acting as creditors that could claim unpaid money. The firm owes landlords millions of dollars. The landlords note that they could have gotten new tenants had they known of the plan to make the termination so early.

If you are in debt, are facing difficulties paying your mortgage or you are considering filing bankruptcy, you should work with an experienced attorney. We, at the law offices of Jayson Lutzky, P.C. (www.BankruptcyNYC.com), have served thousands of satisfied clients over the past 29 years. To set of a free consultation, call us at (800) 660-5299.

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