[EN] Modern law firm governance: Lessons from the collapse of a "Big Law"

Vietnam Corporate Governance · Jul 1, 2026 · 11m

In the world of law, Dewey & LeBoeuf (D&L) was once a symbol of strength and ambition. Formed from the 2007 merger between Dewey Ballantine and LeBoeuf, Lamb, Greene & MacRae, the firm quickly became a "Big Law," the term for large law firms, The office has a global presence with huge revenues and reputable clients. With more than 1,300 lawyers and 26 offices worldwide, D&L represents a modern governance model: rapid expansion through the recruitment of "star" lawyers and strategic mergers with other law firms. However, just five years later, on May 28, 2012, D&L filed for bankruptcy…