Withers issues cash call to partners

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  • A highly precarious and worrying situation for Withers and their investors it would seem.

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  • As a completely dissatisfied former private client of Withers this situation does not surprise me. I instructed Withers, I bitterly regret this decision.

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  • Although client dissatisfaction may be a contributory factor in companies finding themselves in the unfortunate financial circumstances that Withers LLP appear to be in, and admittedly Withers do seem to have suffered their fair (or unfair) share of former unhappy clients initiating proceedings against them, in my analysis this is not the prime factor in this case. The controversy generated when Withers LLP were found to be in contempt of Parliament for attempting to gag an MP http://www.publications.parliament.uk/pa/cm200910/cmselect/cmstnprv/373/373.pdf and the SRA’s action against them, may also have been disadvantageous, but in itself is not sufficient to trigger what appears to be Withers' decline. The jury may still be out however market forces applying pressure onto what would appear to be an already financially distressed company may tip many small to medium size firms such as Withers over the edge in the ensuing twelve months.

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