Regional giant to release cash reserves to distribute more capital to junior partners
March 16, 2005 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Birmingham giant Wragge & Co is to release around £5m in cash reserves as part of a move to distribute more of its capital to junior partners, Legal Week can reveal.
Senior management agreed the move at a partnership meeting last week. The capital will largely be used to cut capital contributions that junior partners make to the firm on being awarded equity.
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