Cameron McKenna stalls equity changes

Cameron McKenna has failed to pass changes to its equity partners status in a first vote.

The changes, which will abolish the distinction between senior and junior equity partners and increase the bonus pool, were first revealed by The Lawyer (6 September).

A first vote last week resulted in 70 per cent of the partnership agreeing with the proposal. However, under partnership rules a majority of 80 per cent is required.

Cameron McKenna's managing partner Robert Derry Evans says that a “few details need to be sorted out” before the partnership goes to a second vote in a fortnight's time.

He adds that no date has been set for the second vote which he expects to be passed with the necessary majority.