By Antony Collins
October 24, 2004 at 08:03 PM
1 minute read
The original version of this story was published on Legalweek
Cleary Gottlieb Steen & Hamilton is to convert to a limited liability partnership (LLP), leaving only a handful of New York’s top firms yet to cap partners’ personal liabilities.
The conversion to LLP, which goes live on 1 January, 2005, provides cover for partner liability in the instance of a major claim against the firm, a protection that has become increasingly popular following the collapse of Enron.
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