Hammonds’ equity partners could see their monthly drawings reduced after the firm tightened its policy on paying out anticipated profits. The national law firm overhauled its policy last month (1 May) to take a more conservative approach intended to avoid the need for partners to pay back drawings paid out in advance but estimated too generously.
June 04, 2009 at 09:50 AM
1 minute read
The original version of this story was published on Legalweek
Hammonds’ equity partners could see their monthly drawings reduced after the firm tightened its policy on paying out anticipated profits.
The national law firm overhauled its policy last month (1 May) to take a more conservative approach intended to avoid the need for partners to pay back drawings paid out in advance but estimated too generously.
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