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LLP Accounts
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Cobbetts refinances £10m banking facilities as top earner takes £400k
By Rose Orlik | January 31, 2012
Cobbetts has agreed to refinance £10m in existing loan and overdraft facilities in a new deal with Lloyds Banking Group, according to limited liability partnership (LLP) accounts recently filed with Companies House. The accounts confirm that the firm, currently in merger talks with DWF, switched its banking facilities from Royal Bank of Scotland to Lloyds after the close of the 2010-11 financial year, agreeing £7.5m in loans and an overdraft facility of £2.5m.
1 minute read
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Hogan Lovells accounts show capital contributions rising by £10m
By Friederike Heine | January 30, 2012
Hogan Lovells' international partnership saw capital contributions from members increase by more than £10m during the financial year ending 30 April 2011, according to the firm's limited liability partnership (LLP) accounts. The accounts, filed with Companies House last week, cover the activities of legacy Lovells outside North and South America - now Hogan Lovells International.
1 minute read
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Olswang best-paid partner takes home £681k; Charles Russell's top-earner makes £293k
By Suzi Ring | January 27, 2012
Olswang's highest paid member took home £681,000 last year according to limited liability partnership (LLP) accounts recently filed with Companies House. The accounts show that the firm's operating profit fell from £31.6m in 2009-10 to £29.3m last year, while staff costs increased to £32.7m in 2010-11, up from £31.5m the previous year.
1 minute read
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SJ Berwin accounts show total staff numbers fell almost 10% in 2010-11
By Sofia Lind | January 26, 2012
SJ Berwin saw staff numbers shrink by 9% during the last financial year, with the firm's 2010-11 limited liability partnership (LLP) accounts showing total staff fell from 1,002 to 914. The reduction, which saw the firm's support staff numbers reduce by 22, with lawyer count shrinking by 66 to 465, prompted total staff costs to drop by 5% to £69.5m.
1 minute read
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Herbert Smith accounts reveal £6.7m loan as top earner takes home £1.1m
By Suzi Ring | January 25, 2012
Herbert Smith took out a £6.7m loan in 2010-11, according to recently filed limited liability partnership (LLP) accounts, with part of the loan going towards fitting out the firm's new Belfast office. Details of the loan are contained within accounts, filed earlier this month with Companies House, which also show that at the close of the financial year the firm's overdraft stood at £18.7m compared with £7.6m the previous year, taking total bank borrowings to £70.9m. Despite the increase, the firm's total overdraft facility remained unchanged.
1 minute read
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CMS accounts reveal financial details of Integreon outsourcing deal
By Sofia Lind | January 24, 2012
CMS Cameron McKenna's 2010-11 limited liability partnership (LLP) accounts have revealed financial details of the City firm's controversial back-office outsourcing arrangement with Integreon, which went live in April last year. The accounts show Integreon is due to make an £8.7m payment to Camerons for taking on the service company housing virtually the whole of the law firm's back office support function last spring.
1 minute read
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Freshfields LLPs show £2.5m pay for top earner and audited revenue dip
By Suzi Ring | January 18, 2012
Freshfields Bruckhaus Deringer's highest-paid member took home £2.5m last year, a 7% decrease on the top figure of £2.7m paid out in 2010. The figure, contained within the firm's recently filed limited liability partnership accounts, is understood to have been paid to a retired partner. The sum marks the second consecutive annual decrease in the firm's top payout, after 2008-09's highest-earning member received £3.3m.
1 minute read
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Wragges LLPs reveal one-off £10.5m cost of delayed Birmingham move
By Rose Orlik | January 13, 2012
Wragge & Co's highest-paid partner took home £734,000 in 2010-11, up from £444,000 the preceding financial year, according to accounts recently filed with Companies House. The UK top 25 firm's audited turnover was £112.9m, up from £98.2m in 2009-10, but reported operating profit fell from £30.2m to £28m due to a one-off £10.5m property expense. Operating profit before the property cost stood at £38.6m.
1 minute read
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Beachcroft pre-merger LLPs reveal bank loans for international growth
By Rose Orlik | January 11, 2012
Legacy Beachcroft agreed £3m in new loans during the last financial year to finance its Singapore launch and revamp its Birmingham office, according to 2010-11 limited liability partnership (LLP) accounts recently filed with Companies House. The accounts state that the firm, which merged with Davies Arnold Cooper on 31 October 2011 to form DAC Beachcroft, secured loans totalling £3m to finance the ventures.
1 minute read
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Eversheds LLP filings show £6.4m cost of Middle East acquisition
By Rose Orlik | January 10, 2012
Eversheds' acquisition of Middle Eastern law consortium KSLG will cost the firm £6.4m, according to the firm's 2010-11 accounts, recently filed with Companies House. The firm's limited liability partnership (LLP) filings include details of the predicted costs of the May 2011 acquisition, which gifted the top 10 UK firm new bases in Iraq, Jordan, Saudi Arabia and Dubai.
1 minute read
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