It’s nice when they do something for the little guy isn’t it?
Struggling business Allen & Overy has been promised a handy leg-up to get itself started in its new Belfast outpost with a £2.5m grant from the taxpayer-funded Invest Northern Ireland (see story).
With a turnover in excess of £1bn last year and estimated cost savings of £2m a year as a result of its Northern Ireland adventures, A&O will be grateful for the extra funding.
In the first instance, the cash will be used to subsidise the remuneration of staff relocating from London, but managing partner Wim Dejonghe added that any loose change “will be used to cover set-up costs”.
With costs for furnishing homes spiralling out of control in recent years, the handout is expected to be used to supply the office with rugs, throws, picture frames and up to 10,000 tea-lights from Ikea. Allegedly.
In The Lawyer on Monday: Meet the former Lovells lawyer turned pub landlord; the lowdown on the postponement of the Bribery Act; and an interview with the men in charge at Herbert Smith.