Asked if the firm was in crisis in March 2012, the former GC, Janis Meyer, replied: 'The firm had probably been in crisis for a month or two before that, yes.' She also gave evidence that on March 20 2012, the firm's outside legal advisers, Paul, Weiss, Rifkind, Wharton & Garrison, had advised that Dewey speak to bankruptcy counsel. Paul Weiss was conflicted out of taking on the role itself. 

Witnesses

Ms Meyer was giving evidence in the jury trial in Manhattan of three former senior executives at Dewey who are facing fraud charges. The trial has now heard from 40 witnesses and there are heated disagreements over the cause of the firm which filed for bankruptcy on May 28 2012. Source: New York Law Journal