Hope for Halliwells as trio offer takeover deal
Barlow Lyde & Gilbert (BLG), HBJ Gateley Wareing and Hill Dickinson have agreed the basis of a deal that would see the three firms take over the majority of troubled firm Halliwells.
Any deal would be subject to partnership approval at each firm, with at least one needing the backing of 75 per cent of partners. Subject to partnership backing, BLG will take over Halliwells’ defendant-focused insurance practice, including head of insurance liability Kevin Finnigan, James Dadge and Peter Walmsley, who are thought to be joining BLG’s Manchester office.
National firm HBJ plans to take over the remainder of the Manchester office, which includes the corporate and real estate practices, and is expected to take on Halliwells’ Spinningfields HQ.
HBJ has been eyeing a Manchester launch for some time to add to its six existing UK offices. It is expected that any deal would lock equity partners in for a three-year period.
The biggest surprise comes with regard to Liverpool-headquartered Hill Dickinson, which will take over Halliwells’ smaller Liverpool office. Hill Dickinson was considering taking over Halliwells in its entirety, with a view to getting a shot in the arm for its own smaller Manchester office.
It is unclear what will happen to Halliwells’ Sheffield and London offices, which have been diminished in recent years by exits and raids by rivals, notably Kennedys’ 2009 swoop on the Sheffield insurance practice.
Halliwells filed notice of its intention to appoint an administrator on 24 June, following falling fee income, increased indebtedness and rising property costs.
Readers' comments (10)
Are they mad? | 5-Jul-2010 9:52 am
Why would anybody want to take on what is left? A firm diminished by defections and then diminished further through Barlows and HD taking the best of what is left looks to be madness. Factor in the decision to take on the Spinningfields albatros and you wonder whether any meaningful DD has been done here. HD and Manches did not like what they found when they opened the books. What on earth can HBJ be looking at to cause them to decide that this is a good move for them? HBJ may come to regret their decision to scoop up what has been left behind.
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Anonymous | 5-Jul-2010 11:07 am
Seems to me that BLG get the cream of the crop and everyone else gets the crop (change the third letter ) . Who on earth is going to make a success of Springfield though
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Anonymous | 5-Jul-2010 3:11 pm
I worked at Halliwells for many years as a support worker. I loved working there, lots lovely people and I was always treated well. Im very sad to read the recent stories and hope that whatever the outcome it is a happy one for all concerned.
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Anonymous | 5-Jul-2010 5:06 pm
Can I just echo that last comment. There have been some very ugly sentiments being expressed by all and sundry. As a former Halliwells London fixed share (for which in real life land, read salaried) partner saw the writing on the wall and left 2 years ago I would like to point out that this is a tragedy for the majority of the staff and yes, partners, and yes, including those in Manchester in the who are on the whole, and in all four offices, a decent, talented bunch of people with worthwhile practise let down by the elementary mistakes of a few in senior management. There are some obvious exceptions, though. For example, the people involved in the recent Sheffield Office goodbye drinks email debacle. You know who you are...
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Anonymous | 6-Jul-2010 0:10 am
Nothing good comes from the fruit of a poisoned tree. The Bargepole test comes to mind. I.e. do not touch with one. These three firms will rue the day.
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Anonymous | 6-Jul-2010 11:12 am
with regard to the bargepole test remark.....I honestly find it unbelievable that people and there are so many of them, who make comments with little or no knowledge of what they are talking about. It is a sad fact that increasingly a lot of people seemingly take pleasure in unfortunate situations and I can only think that this is due to the fact they are indeed very unhappy people who can only be happy when they are revelling in others misfortunes. People in glass houses springs to mind!
from a previous Halliwells support employee
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Anonymous | 6-Jul-2010 9:04 pm
Anon @17:05 5 July,
Indeed, the response to the misguided global invite was at best ill judged and at worst indicative of an undercurrent which might be considered part of the problem. As for your conclusion, sadly I think that they're obvlivious to their part in the whole mess.
As for the ill informed comments re bargepoles etc perhaps you need to find a fora which enable you to cmment with lots of smiley symbols or green ink?
Halliwells has a great number of dedicated, bright and talented lawyers and support staff who would be a benficial asset to any team.
If folk think that we're the last big casualty then I'd say they were being wilfully blind.
m.m. typo's it's been a hard few weeks and I've been at the pub on the way home.
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Anonymous | 10-Jul-2010 0:39 am
Halliwells Management made a complete mess of everything due to the complete greed of a few. Hopefully though the new firms will have higher standards and management and can turn everything around. Unfortunate though that they will be absorbing some of the bad management that caused Halliwell's downfall. If they can keep them in check however and perhaps shake them off after a while, they might have a chance of salvaging something from the formally rotten firm known as Halliwells. It can only be better for the Support Staff who were treated abominably by Halliwells.
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Anonymous | 16-Jul-2010 3:52 pm
The saying goes "what goes round, comes round". The senior management of Halliwells left a lot to be desired in terms of professonalism and treatment generally of staff. In particular the corporate recovery senior managers behaviour both professionally and morally was abhorent.
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anon | 16-Jul-2010 11:27 pm
The old Cuff Roberts had a good reputation and there seem to be quite a few names still there from then so HD may do ok with the Liverpool office. Manchester Halliwells had been through so many rounds of redundancies it must only really have been partners left. Yes the old offices in Spring Gardens were dingy but some firms have done well from cheaper offices - doubt the clients were impressed by Spinningfields for long.
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