A&O to take on limited liability status

Allen & Overy is set to become the first magic circle firm to convert to a UK limited-liability partnership (LLP). The Lawyer understands that, subject to a partnership vote, conversion could take place by the end of this financial year, although it is possible that not all of the firm will initially transfer to LLP status. Only a minority of The Lawyer 100 firms have yet converted to LLPs, although a number have signalled an interest. Clifford Chance, the largest LLP in the world, is registered under US law. First revealed on www.thelawyer.com 7 November