Denton Wilde Sapte withheld part of its latest quarterly profit payout to partners in response to their failure to meet billing collection targets, it has emerged.
The decision – which was announced to partners at the end of April – comes as the firm’s chief executive Virginia Glastonbury launches a crackdown on cash-collection by partners.
The firm admitted this week that it had initially withheld around half of April’s quarterly profit-share payment, but stressed that it was now fully up to date with partner drawings.
