Categories:UK

Hill Dickinson issues £2.8m cash call

  • Print
  • Comments (16)

Readers' comments (16)

  • Who's making the decisions at Hill Dickinson - the Board or the Bank?

    Unsuitable or offensive? Report this comment

  • Nice blaming the 'recent' practice management system. That has been an ongoing project for the past 6 years.

    Unsuitable or offensive? Report this comment

  • It sounds like they are all at sea.

    Unsuitable or offensive? Report this comment

  • Can't be a happy ship right at the moment

    Unsuitable or offensive? Report this comment

  • Let's hope that the five year rent incentive that has just expired on their Liverpool offices isn't on a par with Halliwells and their reverse premium.

    Unsuitable or offensive? Report this comment

  • They were talking about opening in the Middle East a while back but nothing came of it. They took on part of Halliwells partly because of a personal friendship with Jonathan Brown. The office in Piraeus can't be doing very well. Monaco office must be a white elephant but the marine team are quite highly thought of. Man the lifeboats!!!!!!! There's an iceberg ahead!

    Unsuitable or offensive? Report this comment

  • Drop in profits, cutting partners, cutting lawyers, selling off an office/team, and then a cash call. This just doesn't sound very promising at all. It can't be pleasant for anyone working there to have to read these stories in the press. Is this restructuring the prelude to yet another merger?

    Unsuitable or offensive? Report this comment

  • So that's a lot of the "partners" having to find £1,000 and a much much smaller number having to find the balance......

    Unsuitable or offensive? Report this comment

  • Those figures look scary enough as averages, but they will in fact be having a much greater impact on the relatively few people with any real equity. When in trouble Hill Dicks historically have looked for a merger as the dominant partner. I can't help feeling that this time the vultures will be circling them.

    Unsuitable or offensive? Report this comment

  • Over budgets, not listening, office moves?, bad planning, performance management? Huh. Sit near the escape route.....

    Unsuitable or offensive? Report this comment

  • I always thought Hill Dickinson was a good firm. Surely they'll be fine.

    Unsuitable or offensive? Report this comment

  • Seems very unlikely that £2.8 million is sufficient. It really should not be difficult to manage the firm such that this kind of cash-call is unnecessary. Those made redundant would do well to keep away from large firms more intent on building brands and equity profits than giving their lawyers a stable platform to provide legal services for which they can hope to be paid a reasonable fee and in turn receive a salary that fairly reflects their contribution.

    Unsuitable or offensive? Report this comment

  • In my experience cash calls are a last resort and management tend to ask for the bare minimum. A firm the size of Hill Dickinson really shouldn't be scrabbling around down the back of the sofa for this sort of loose change.not a good sign at all.

    Man the lifeboats indeed.

    Unsuitable or offensive? Report this comment

  • Why man the lifeboats? This firm has a healthy client roster.

    Unsuitable or offensive? Report this comment

  • If by "healthy client roster" you mean some big name insurers, then you're right, they do. But that sort of client gets knock down rates.

    It's clear from recent press that Hill Dicks are having a tough time at the moment. A cash call, significant redundancies, partner losses, drop in PEP, drop in net profit are all things that make other people at a firm look at their own position very carefully. In particular the senior people - many partner in name - will look at other options in a firm that might not seem as rosy a prospect as it once did.

    I hesitate to mention Hill Dicks in the same breath as Halliwells or Cobbetts - because I'm not suggesting that they're in the same boat - but the demise of those two firms surely demonstrates that big name clients don't guarantee anything.

    Unsuitable or offensive? Report this comment

  • Healthy client rosters?

    Big name insurers like Co-Op/CIS who are pulling out of the car insurance market?

    Unsuitable or offensive? Report this comment

Have your say

Mandatory Required Fields

Mandatory

Comments that are in breach or potential breach of our terms and conditions in particular clause 8, may not be published or, if published, may subsequently be taken down. In addition we may remove any comment where a complaint is made in respect of it. These actions are at our sole discretion.

  • Print
  • Comments (16)