A partner at failed Dewey & Leboeuf who advised the firm on a $150 million private debt offering in 2010 testified Thursday that he was never in the loop on the firm’s finances and relied completely on assurances by the finance department that the firm was on sound financial footing.
Richard Shutran, a senior Dewey Ballantine corporate and finance lawyer and one of the highest compensated at the merged firm, told jurors at the criminal trial of the firm’s three former top executives that as inside legal counsel to the bond offering and a related $150 million refinancing, he only provided legal oversight on the terms included in agreements.
