Partners in continental Europe affiliated with Dentons are being asked to pay up to $7.8 million in extra capital to the global legal giant.
The world’s largest law firm by attorney head count has asked to inject between 6 million euros ($6.7 million) and 7 million euros ($7.8 million) of additional capital into the business during the next two years.
The move, which follows a partner vote in favor of raising capital contributions last month, does not include Dentons’ U.K. partnership or any other part of the Swiss verein-structured firm.
The capital call will see European partners be asked to pay in up to an extra 100,000 euros apiece ($111,954) over a two-year period between 2017 and 2018. Partners currently contribute 1,000 euros ($1,120) in capital for every equity point they hold in the business.
This will increase to 1,275 euros ($1,427) per equity point, with the firm’s top-earning partners required to add an additional 100,000 euros. The initiative, which affects legacy Salans partnership in continental Europe, was overseen by European CEO Tomasz Dabrowski and European COO Richard Singer.
Dentons announced in May that it plans to open a business services center in Warsaw. That decision will see approximately 50 roles cut from its U.K. arm, representing about 12 percent of Dentons’ entire business services staff in the country. The firm expects to have between 90 and 100 staffers in the center by year’s end.
During the past 12 months, Dentons has announced a raft of tie-ups with other firms around the world. Most recently the firm entered into combination agreements with Mexico’s López Velarde, Heftye y Soria—a move that has gone less than smoothly—and Colombia’s Cardenas & Cardenas. Dentons has also sought to recoup capital from former partners at firms it has absorbed, such as McKenna Long & Aldridge.