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.
