Editorial

bonus money

Gateley scraps 2020 bonuses to protect cashflow

Listed law firm Gateley has scrapped its 2020 bonus scheme in its latest bid to control cashflow in response to the Covid-19 pandemic. Lawyers and staff were told that no bonuses would be paid for the April 2020 financial year “as part of a number of measures we have taken to protect the business in […]

Edinburgh

Burness Paull approves ‘significant’ partner cash injection

Burness Paull has completed a multimillion-pound fundraising round, in which the firm’s top equity partners were asked to double their capital stakes to £300,000. The firm voted through the cash call in April, as partners opted to inject cash into the business rather than raise bank borrowings. Burness Paull has also reduced monthly drawings by […]

Empty office

The Covid Files: How the Top 50 firms are managing…furlough

The Covid-19 pandemic has forced firms to examine whether their cash position is strong enough to withstand a sudden economic downturn. The Lawyer contacted the UK Top 50 firms to understand how firms are adjusting financial management in response to the Covid-19 pandemic. In this series, we reveal how the market is managing the ongoing […]

The resurrection of KWM’s global dream

Mishcon’s closure of its ten-year-old New York office this month might be seen as a significant bit of IPO prepping, but it has also gifted three partners to a firm from which we have heard little in recent times: King & Wood Mallesons (KWM).