Bank loans to be repaid after former partners’ notice period ends
Halliwells has arranged with its lender to delay repaying a number of professional practice loans in a bid to keep cash in the business.
Halliwells has arranged with its lender to delay repaying a number of professional practice loans in a bid to keep cash in the business. Following the departure of a number of partners, the national firm has agreed with its bank that in six individual circumstances it will delay paying back professional practice loans - money that individuals borrow from the bank to put into the firm on joining the equity. The money will now not be repaid in full until the former partners' official notice period has come to an end, even if the partner has left the firm before the notice period is up.
June 09, 2010 at 05:29 AM
1 minute read
The original version of this story was published on Legalweek
Bank loans to be repaid after former partners’ notice period ends
Halliwells has arranged with its lender to delay repaying a number of professional practice loans in a bid to keep cash in the business.
Already have an account? Sign In Now
By Kasvi Sehgal
Presented by BigVoodoo
Celebrating achievement, excellence, and innovation in the legal profession in the UK.
Legalweek New York explores Business and Regulatory Trends, Technology and Talent drivers impacting law firms.
Join General Counsel and Senior Legal Leaders at the Premier Forum Designed For and by General Counsel from Fortune 1000 Companies
A prominent AV-rated Education Law firm seeks an associate with 5+ years experience. The role will primarily involve advice and counsel in ...
Associate attorney position at NJ Immigration Law firm: Leschak & Associates, LLC, based in Freehold, NJ, is looking for a full time ass...
Javerbaum Wurgaft, a large civil litigation firm with nine (9) offices, seeks: Plaintiff Personal Injury Attorney for Northern New Jersey of...
Don't miss the crucial news and insights you need to make informed legal decisions. Join International Edition now!
Already have an account? Sign In