Stephenson Harwood joins majority as LLP

Stephenson Harwood partners have approved the firm’s plans to convert to a limited liability partnership (LLP).

“A very substantial majority” of partners approved the conversation in a vote yesterday, a spokesperson confirmed, with the City firm now set to become the 49th out of the top 50 UK firms to use the structure (9 March 2012).

Slaughter and May remains the only top 50 firm not to be an LLP, a legal structure providing protection in the case of a major indemnity claim against the firm.

The British legal form has gained popularity outside the UK, with a movement arising in Germany against its spread, which was seen as a threat to the German partnership structure (13 June 2011).