Exclusive: Legacy Herbert Smith issues £20m cash call to equity partners

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  • Placing bets that there will now be a predictable string of comments from disaffected ex-Herbies lawyers about how the firm has gone down the pan

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  • @Freesmith, I am neither disaffected nor an Ex-Herbert Smith lawyer but it does beg the question that the firm's management took their eyes off the ball with regard to capitalisation.

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  • I think the question is answered by the fact that the call was anticipated in the merger agreement, as noted in the article. So not an issue of anyone taking their eye off the ball.

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  • Will the stories of solicitors being "made up" change to their being "paid up?"

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  • Could that be the explanation for the numerous recent partners departures?

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  • Not a pleasant experience if retiurment is near! 2 out of 10 for capital planning!

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