Law Society to repeat Halliwells rescue plan for Dewey trainees
The Law Society has confirmed that it will help Dewey & LeBoeuf's London trainees find new firms to complete their training in the event of a wind-down of the firm's UK operations. The Society said it will approach HR departments at other City law firms in an effort to line up new training for Dewey's current and future London trainees if required, with the office's staff currently facing an uncertain future.
May 02, 2012 at 07:03 AM
3 minute read
The Law Society has confirmed that it will help Dewey & LeBoeuf's London trainees find new firms to complete their training in the event of a wind-down of the firm's UK operations.
The Society said it will approach HR departments at other City law firms in an effort to line up new training for Dewey's current and future London trainees if required, as the office's staff face an uncertain future.
The news comes after Legal Week revealed yesterday that the firm is considering an orderly wind-down of its London operations.
Dewey currently employs 20 trainee solicitors in London, with a further seven-strong intake lined up to join the firm in September 2012, as well as four more in March next year.
The two future intakes have not yet officially been cancelled, according to a Dewey spokesperson.
A Law Society spokesman commented: "In the case of a wind-down, our intention is to replicate what we did when Halliwells went into administration. Where possible we will work with and encourage other firms to help find current and future trainees other firms at which to complete their training."
The administration of Halliwells in 2010 saw around thirty law firms register interest in a scheme to find new roles for affected trainees. Forty-five incoming trainees saw their offers terminated in the wake of the firm's asset sale that summer.
The news comes after partners at Dewey's City arm this week began discussing options for an orderly wind-down of the firm's London limited liability partnership.
On Monday (30 April) London partners voted unanimously on the appointment of a 'crisis management committee' comprising London managing partner Peter Sharp, finance partner Bruce Johnston, US tax head Judith Harger and restructuring partners Mark Fennessy and Hazel Miller.
The firm is continuing to see a stream of partner departures from offices around the world, with the latest exits coming in London, New York, Washington DC and Abu Dhabi.
London tax partner Julio Castro yesterday became the third Dewey partner to take an in-house role at KPMG, following the recent exits of Fred Gander and Hershel Wein, while London corporate partner Stephen Walters, whose next destination is currently unknown, has also handed in his resignation.
New York private equity partners Ilan Nissan and Christian Nugent have joined Goodwin Procter, while Washington DC securities litigation partner Lyle Roberts has moved to US firm Cooley.
Meanwhile, London projects partner Jim Simpson and Abu Dhabi partner Stephen Jurgenson have agreed a deal to join US firm Pillsbury Winthrop Shaw Pittman, but have not yet handed in their notice.
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