Former Halliwells partners to repay £20.4m Spinningfields windfall

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  • At last...a sensible message to the profession!

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  • WOW, what a surprise!!! Yes, that's sarcasm. Surely they must have been expecting this for quite sometime. Let's hope they've all been saving up....

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  • Anyone want to speculate how this might impact Gateleys/the sub-LLP/the partners in the sub-LLP? Or Heatons?
    Looks like nobody who went to BLG or Hill Dicks was part of the 'inner circle' - guess they got the last laugh.
    But the most important question of all - where is Alec Craig these days?

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  • I bet Gateleys hourly rates have been increased this week!

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  • Alec Craig was seen at Ascot this week. Apparently he bumped into Dermot Power from BDO and they shared a joke over a glass of bubbly. True story!

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  • If those partners who took the reverse premium thought after Halliwells went belly-up that they'd get away with keeping it then they're even more dumb than I thought. They must have been expecting this.
    Is this going to be a Hammonds-litigation scenario?

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  • According to the Heatons website, Austin has "a determined approach to resolving commercial disputes but equally recognises the need to consider alternatives to litigation and arbitration and has considerable experience of mediation."
    So will he be opting to mediate his way out of this one?

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  • Weren't Halliwells a Limited Liability Partnership? If so then how will the administrator be able to recover the money from the partners?

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  • Because the claim is by the LLP (acting by BDO) against the partners personally for (presumably) breach of duty in agreeing to the transaction for their own profit.

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