THE BREAKAWAY of the Bournemouth offshoot of the London and Home Counties firm Penningtons was confirmed last week when it relaunched as a separate practice under the name Fynn & Partners.
Months of negotiations ended with senior partner Lionel Fynn and five other partners beginning as a specialist practice in environmental, licensing and planning law on Thursday.
The confirmation ends speculation about the future of the Bournemouth office and comes a month after The Lawyer first reported the breakaway move.
David Stedman, managing partner at Penningtons, claims the split was amicable. However, sources say the negotiations took longer than expected because of differences about the terms.
Fynns' operation includes the cherished licensing practice, which accounts for 3.5 per cent of Penningtons' income.
However, Stedman says that the move will not affect Penningtons adversely. “We will focus on corporate and commercial work,” he says.
“Penningtons head office in the City of London continues to remain the hub of the firm's
national and international activities.”
Fynn is joined in the new firm by Bournemouth partners Alan Arnold, Tony John, Julia Palmer, Simon Nightingale and Nigel Mills.
The new venture also boasts a strong commercial property and litigation team. Arnold says: “The new practice will build on the excellent reputation we already have.”