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He made the statement after he was asked for further information on the hiring of financial and restructuring advisers. In the wake of firm collapses at Dewey & LeBoeuf and Heenan Blaikie, he was under pressure to confirm that the firm was not in financial difficulties. He said: ‘The suggestion that bankruptcy is an issue is so far from the mark as to be laughable.’ The firm has made public that it is in merger discussions with Squire Sanders. Source: ABA News
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