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Travers Smith has rewritten its partnership agreement as it becomes the latest City firm to convert to an LLP.
Travers ;Smith ;has rewritten its partnership agreement as it becomes the latest City firm to convert to an LLP.
Travers set up a special committee to handle the conversion, headed by managing partner Chris Carroll and corporate partner Oliver Barnes, alongside partnership manager David Thomas and the recently retired property partner Robert Harman.
Barnes said the move had allowed Travers to iron out some anomalies in its partnership system.
“There’s quite a lot to think about,” he added. “It’s given us the opportunity to re-examine the partnership agreement. This isn’t going to ;change ;our ;modus operandi ;– ;it ;will ;be business as usual.”
Travers also received advice from an external consultant, former Lovells partner Don Kelly.