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International Edition

Proskauer accounts show cost of London expansion drive

Proskauer Rose's London office owed the US partnership a total of £13.7m at the end of its 2011-12 financial year, according to UK limited liability partnership (LLP) accounts recently filed with Companies House. The loan was driven by lateral recruitment, with Proskauer making seven partner hires in London over a 12-month financial period ending on 31 October 2011, as well as its move to new City premises in 10 Bishops Square.
2 minute read

International Edition

Shoosmiths converts to LLP and revamps brand

Shoosmiths has converted to a limited liability partnership (LLP) making it one of the last firms in the UK top 50 to make the change. The national firm became an LLP last week (6 August), coinciding with the end of a 12-month review of the firm's brand and position in the market, which culminated in a brand and website re-launch.
2 minute read

International Edition

Orrick and McDermott see UK revenues dip

The UK arms of Orrick Herrington & Sutcliffe and McDermott Will & Emery have posted decreasing revenues and profits for the 2011 calendar year, according to public accounts filed today (16 July). Orrick's London office posted fee income of £21.1m for the 2011 calendar year, having brought in nearly double that amount during the 18-month period leading up to 31 December 2010.
3 minute read

International Edition

Well-run LLPs should allow compulsory retirement ages to bow out gracefully

"The fundamental question facing partnerships and LLPs is whether forcing a person to retire at a specified age suits their business. Compulsory retirement ages may well be otiose when a firm has a well-drafted partnership or members agreement..."
5 minute read

International Edition

Former Halliwells partners set to join Gateley's English LLP

Gateley is set to bring the former Halliwells partners it hired in July 2010 into the firm's main limited liability partnership (LLP) from the start of the new financial year.
2 minute read

International Edition

Kennedys accounts highlight rapid expansion as equity ranks grow 30%

Kennedys saw staff wages and salaries rise 18% during 2010-11 after substantial expansion which saw the firm add 15 equity partners and boost staff count by almost 100. The figures, included in accounts recently filed on Companies House, show the number of equity partners at the firm increased 30% from 50 to 65 in 2010-11, with the payout for the highest earner subsequently falling 22% to £541,739 from the previous year's top figure of £696,981.
2 minute read

International Edition

Travers accounts show pay for top earner rose 25% in 2010-11

Travers Smith's highest-paid partner took home £1.3m last year, marking a 25% increase on the largest payout in 2009-10. The figures, included in the firm's limited liability partnership (LLP) accounts recently filed on Companies House, show that the highest-paid partner received £258,000 more in 2010-11 than the £1.04m paid out the previous year.
2 minute read

International Edition

Bakers accounts show 8% City profits dip as top earner makes £872k

Baker & McKenzie's London office has posted an 8% drop in profits available for distribution during the 2010-11 financial year, with the highest earner in the firm's City arm taking home £872,000.
2 minute read

International Edition

Pinsents LLPs: £9m property charge and £25m incentive for London move

Pinsents Masons' incurred a one-off property charge of £9m in 2010-11, cutting profit available for discretionary division between partners from £63.3m to £54.3m according to limited liability partnership(LLP) accounts recently filed with Companies House.
2 minute read

International Edition

Irwin Mitchell LLPs highlight ABS shake-up as Squire Sanders top earner makes £500k

Irwin Mitchell LLP paid £5.8m of its profits into Irwin Mitchell Holdings, the company it set up as part of plans to restructure as an Alternative Business Structure (ABS), according to limited liability (LLP) accounts recently filed with Companies House.
3 minute read

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