The flotation of Australian volume personal injury firm Slater & Gordon on the Australian Stock Exchange in May firmly placed the debate surrounding external investment and partnership structure reform back on most firms’ agendas.
Although the Legal Services Bill is still making its way through Parliament, several firms have already thrown their proverbial hats into the ring. Halliwells, LG and Olswang are just a few of the firms to have confirmed that they are considering flotations or private equity investment once regulations allow. In fact, research by The Lawyer has revealed that almost a third of the firms in the UK 100 are in favour of allowing the injection of third-party capital.
This Partnerships Special Report examines this trend, as well as the ongoing concern surrounding the requirement for firms to reveal the full extent of their pension deficits following conversion to LLP status.