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International Edition

BLP accounts show firm cleared £18.6m loan during 2010-11

Berwin Leighton Paisner (BLP) has repaid a £18.6m debt used largely to refurbish its City premises and launch its Moscow operations, according to the firm's limited liability partnership (LLP) account. The 2010-11 accounts reveal that BLP moved from being £18.6m in debt in 2009-10 to £854,000 in credit last year, writing off all money owed on the upgrade of its Adelaide House premises and its Russia office launch.
2 minute read

International Edition

DLA LLP filings show turnover increase and £1.7m pay for top earner

DLA Piper's International limited liability partnership (LLP), which covers all operations outside North and South America, reported revenues of £619.9m during the financial year ending 30 April 2011.
2 minute read

International Edition

Norton Rose accounts show staff costs rose £12m during 2010-11

Norton Rose saw staff costs increase by £12.3m during 2010-11 in the wake of significant international expansion, the firm's limited liability partnership (LLP) filings have revealed. The LLP accounts, which cover all of the firm's operations with the exception of its Australia, Canada and South Africa arms, show staff costs rising over the year from £138.9m to £151.2m.
2 minute read

International Edition

Cobbetts refinances £10m banking facilities as top earner takes £400k

Cobbetts has agreed to refinance £10m in existing loan and overdraft facilities in a new deal with Lloyds Banking Group, according to limited liability partnership (LLP) accounts recently filed with Companies House. The accounts confirm that the firm, currently in merger talks with DWF, switched its banking facilities from Royal Bank of Scotland to Lloyds after the close of the 2010-11 financial year, agreeing £7.5m in loans and an overdraft facility of £2.5m.
2 minute read

International Edition

Hogan Lovells accounts show capital contributions rising by £10m

Hogan Lovells' international partnership saw capital contributions from members increase by more than £10m during the financial year ending 30 April 2011, according to the firm's limited liability partnership (LLP) accounts. The accounts, filed with Companies House last week, cover the activities of legacy Lovells outside North and South America - now Hogan Lovells International.
3 minute read

International Edition

Olswang best-paid partner takes home £681k; Charles Russell's top-earner makes £293k

Olswang's highest paid member took home £681,000 last year according to limited liability partnership (LLP) accounts recently filed with Companies House. The accounts show that the firm's operating profit fell from £31.6m in 2009-10 to £29.3m last year, while staff costs increased to £32.7m in 2010-11, up from £31.5m the previous year.
2 minute read

International Edition

SJ Berwin accounts show total staff numbers fell almost 10% in 2010-11

SJ Berwin saw staff numbers shrink by 9% during the last financial year, with the firm's 2010-11 limited liability partnership (LLP) accounts showing total staff fell from 1,002 to 914. The reduction, which saw the firm's support staff numbers reduce by 22, with lawyer count shrinking by 66 to 465, prompted total staff costs to drop by 5% to £69.5m.
3 minute read

International Edition

Herbert Smith accounts reveal £6.7m loan as top earner takes home £1.1m

Herbert Smith took out a £6.7m loan in 2010-11, according to recently filed limited liability partnership (LLP) accounts, with part of the loan going towards fitting out the firm's new Belfast office. Details of the loan are contained within accounts, filed earlier this month with Companies House, which also show that at the close of the financial year the firm's overdraft stood at £18.7m compared with £7.6m the previous year, taking total bank borrowings to £70.9m. Despite the increase, the firm's total overdraft facility remained unchanged.
2 minute read

International Edition

CMS accounts reveal financial details of Integreon outsourcing deal

CMS Cameron McKenna's 2010-11 limited liability partnership (LLP) accounts have revealed financial details of the City firm's controversial back-office outsourcing arrangement with Integreon, which went live in April last year. The accounts show Integreon is due to make an £8.7m payment to Camerons for taking on the service company housing virtually the whole of the law firm's back office support function last spring.
3 minute read

International Edition

Freshfields LLPs show £2.5m pay for top earner and audited revenue dip

Freshfields Bruckhaus Deringer's highest-paid member took home £2.5m last year, a 7% decrease on the top figure of £2.7m paid out in 2010. The figure, contained within the firm's recently filed limited liability partnership accounts, is understood to have been paid to a retired partner. The sum marks the second consecutive annual decrease in the firm's top payout, after 2008-09's highest-earning member received £3.3m.
2 minute read

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