Dewey & LeBoeuf is playing it safe, as high debt and partner defections loom larger in the policies and practices of this BigLaw firm with nearly 900 lawyers still on board.  So, while the firm continues to negotiate with its bank creditors, the managing partners have decided to obtain the representation of a prominent bankruptcy attorney - that according to 2 attorneys at other law firms who have knowledge of the matter.  Since the beginning of the year, the 950-lawyer firm has lost some 70 partners, or 23% of them. Bringing in the Big Guns. Albert Togut, whose client list includes major companies like General Motors, Chrysler, and Ambac Financial in Chapter 11 bankruptcy, was chosen to work with at least one member of the firm's new management team.  Mr. Togut was tapped by managing partner Martin Bienenstock, a high-powered bankruptcy lawyer who last month was appointed to Dewey's new 5-person office of the chairman. Mr. Togut's Presence. What direction the firm takes under the guidance of Mr. Togut is not certain.  Imminent bankruptcy is not a certainty.  For starters, Dewey may lean on Mr. Togut to help renegotiate its debt.  One partner who recently left Dewey said the firm might be preparing for a so-called prepackaged bankruptcy, one that might involve a merger with another law firm.  Such a deal would involve Dewey negotiating with creditors and preparing for a merger prior to filing for bankruptcy.  This would enable Dewey to reorganize and emerge from bankruptcy quickly. In recent months, Dewey has been unable to pay full compensation to many of its longer-term partners, according to 2 partners who left.  The firm's large debt includes about a $125 million bond. For further details, go to [Reuters, 4/23/12].