Major UK firms including Pinsent Masons and CMS Cameron McKenna are among the growing rank of firms either holding back or reducing partner profit distributions as a result of the recession. Top 15 firms Pinsents and DLA Piper have both withheld profit distributions in recent months. Pinsents has withheld its last two quarterly profit distributions, with the firm attributing the "profits distribution holiday" to a series of management responses to the recession. It is due to make its next quarterly payment as planned in December.
October 21, 2009 at 08:04 PM
1 minute read
The original version of this story was published on Legalweek
Pinsents, Camerons and DLA take tough stance on paying profits
Major UK firms including Pinsent Masons and CMS Cameron McKenna are among the growing rank of firms either holding back or reducing partner profit distributions as a result of the recession.
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