X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Law firms have increasingly large amounts of unpaid bills sitting on their balance sheets, which is hurting their cash position, according to an analysis of their limited liability partnership (LLP) accounts.

Research by Legal Week, in conjunction with Smith & Williamson, found that the top 50 LLPs, which does not include Slaughter and May, had £5.6 billion due from clients at the end of the last financial year.

The figure has been increasing annually despite dwindling cash reserves at law firms. This year’s figure marks a 9% increase on the 2016-17 figure of £5.19 billion.

This premium content is reserved for
Law.com International Subscribers.

BENEFITS OF A SUBSCRIPTION INCLUDE:

  • Customized news by region including UK, Asia, Europe, Latin America, Middle East, Africa, and North America
  • Cutting-edge research such as UK Top 100, China 45, and Asia 50
  • Get the inside track on the biggest breaking stories that delve deep into the issues behind the headlines
  • Comprehensive coverage of the dynamic legal market from people moves to the major international jurisdictions
  • Global view into how legal tech, business of law, in-house and regulatory environments are intersecting worldwide

Already a subscriber?

Hannah Roberts

Hannah joined Legal Week in May 2018 after finishing her degree at Kingston University. Her areas of focus are corporate, M&A, private equity and restructuring at UK and City-based US law firms. [email protected]

Further Reading

Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

Law Firm Accounting and Financial Management (Sixth Edition)Book

This book covers topics such as fundamentals of law firm financial information, with easy-to-understand examples of the data involved and financial management concepts.

Get More Information
 
 

Law.com International Newsletters & Briefings

Sign Up Today and Never Miss Another Story.

Sign up for an unlimited number of complementary newsletters, alerts, and International Briefings. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 American Lawyer Media International, LLC. All Rights Reserved.