Categories:North West

Halliwells to appoint administrator; BLG and Hill Dicks vie for assets

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  • It is always sad to see the demise of a major law firm. It does not bode well for the profession as a whole and there must be a fair chance of another firm or two going the same way soon, in the present economic climate. Presumably yet another group of partners in a law firm will be knocking on the door of Ralli Partnership Law ! A silver lining perhaps for some but generally not good news.

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  • very sad to hear this news, I just hope all the lower level staff, who from what I hear are over-worked and under enough stress anyway (my husband included) aren't tossed aside when someone new takes over.

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  • Good riddance.

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  • The irony of this article and most of the bitter, misinformed comments above is that Halliwells is not actually in administration - fact. If, it chooses to put inself into administration at a later date on the back of a merger/takover, that is something quite different. (Please note I am not a Halliwells partner!!)

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  • I remember undetaking an interview at this firm two years back.
    I have never come across such pretentious individuals at all levels in my life.
    The firm honestly thought it was Magic outside of the circle but little did it know it was the fruit pip at the bottom of the bin!
    I'm ever so glad to hear of its disappearance in particular in Manchester where the firm felt they were by far the elitest! - Shame on those innocent individuals whose livelihoods hang by an uncertain thread.

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  • As someone who formerly worked at Halliwells I can only concur with some of the comments here. The partners at this firm knew very little other than their particular field of expertise and displayed very little nouse when it came to handling the upcoming recession. The fact that some partners, like rats leaving a sinking ship will escape the turmoil that many others will face is the utmost in injustice.
    The firm and it's partners deserve no sympathy....

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  • I can tell you that the downfall of 'H' is as a result of one thing, sub-standard practice management by their support staff.

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  • Good riddance! Probably the worse firm ever to work for. People who had been there for years were promoted to director level even though they couldn't do the job. I feel really sorry for the hard working support staff who will no doubt be the first to face the axe. The EP's who shared the multi million pound payout for Spinningfields can all retire/move on with a big greedy smile on their faces.

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  • I've worked in the legal industry for many years (and also had the inexorable joy of working at Halliwells) and I have to say the greed and general bad management is the norm at most firms. Anyone who claims otherwise simply isn't privy to management discussions/the rationale behind decisions! Lawyers are right in there with bankers in terms of values/morals. It's all about the money honey! The partners couldn't care less about the staff as long as they come out unscathed (and of course it will be structured in such a way that the partners will).

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  • It is more likely than not that the decision to put the firm into admin was the partners', rather than the banks'. From the banks' perspective, the LLP will have little by way of tangible assets to secure the borrowing, with only debtors and WIP available as realisable assets, neither of which will realise anything like their face value. The banks' best outcome would ordinarily be a refinancing, , particularly by providing additional finance to partners personally to invest in the LLP. I suspect that, with the exit of so many partners, coupled with poor profitability, the working capital shortfall was more than the partners were prepared to bridge personally. The admin route at least enables them, potentially, to draw a line under their personal liabilities at this stage, and gives them the chance to move on.
    Now that the unthinkable has happened, though, do not be surprised if there are not more such high profile casualties. I think we could all draw up a preety obvious list.

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