Clifford Chance lawyers have voted overwhelmingly in favour of sweeping reforms to the firm’s constitution, simplifying the process of expelling partners. The result of a three-week ballot saw the management secure more than the 85 per cent majority needed to push through the changes, with well over 50 per cent of the equity partners taking part in the process. Until now, the firm has required an 85 per cent majority to expel partners. Under the new constitution, the management will also have the means to freeze and move partners down the lockstep.
First revealed on www.thelawyer.com 23 March