Salans partners to double capital contributions when Dentons merger goes live

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  • We would like to correct some factual inaccuracies that appeared today in an article in The Lawyer regarding the combination of Salans, FMC and SNR Denton.
    The partners have agreed to harmonize our capital requirements over time, but it has not been decided whether capital requirements will go up or down by any specific amount, nor have any other details been addressed on this topic. In short, the statement that all partners must move to the SNR Denton capital structure is incorrect, and therefore, no partner who has chosen to leave could cite changes in capital as a reason for leaving.
    Our firms are currently focused on working toward an integrated effective date to launch the new Dentons later this quarter, not March 1st as was inaccurately reported. While we work toward an effective date many Partners are already actively engaged in creating business solutions for our clients across geographic regions and areas of expertise.
    The partners at Salans, FMC and SNR Denton voted overwhelmingly in favour of the combination proposal to form our new firm, Dentons, understanding well the terms of the proposal. No combination partner is changing their capital requirements because of the combination this year. The story that ran today in The Lawyer is factually inaccurate. And no partner who is leaving has cited the current unchanged capital requirement as a reason for leaving because the issue does not exist.

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