| Property | Value |
|---|
| rdfs:label | |
| rdfs:comment | - On 20 July 2010 Halliwells the High Court made an order putting Halliwells into administration. Dermot Power and Shay Bannon of BDO LLP were appointed administrators . Halliwells' practice was sold as a pre-packaged insolvency to four other firms: Hill Dickinson, Barlow Lyde and Gilbert, Gateley, and Kennedys . At the time, this was the largest English law firm to go into administration . In March 2012 36 of the former junior partners who were not told about the reverse premium threatened to sue the 32 equity partners who took the £20 million .
|
| dcterms:subject | |
| dbkwik:speedydeletion/property/wikiPageUsesTemplate | |
| Help | |
| Page | |
| substed | |
| Day | |
| Month | |
| Timestamp | |
| Year | |
| abstract | - On 20 July 2010 Halliwells the High Court made an order putting Halliwells into administration. Dermot Power and Shay Bannon of BDO LLP were appointed administrators . Halliwells' practice was sold as a pre-packaged insolvency to four other firms: Hill Dickinson, Barlow Lyde and Gilbert, Gateley, and Kennedys . At the time, this was the largest English law firm to go into administration . The administrators initially blamed market conditions and high rents for the firm's failure . An additional factor behind the firm's failure was a property transaction connected to Halliwells' decision to become an anchor tenant in the Spinningfields business development in Manchester. The firm received a reverse premium of £20 million from the landlord, which was shared between the firm's 32 equity partners, who each took between £250,000 and £1 million. This was kept secret from the junior partners . The administrators have sued the 32 recipients and have alleged that Halliwells’ equity partners altered the minutes of a meeting about the s reverse premium before passing them on to the rest of the firm . There has been an attempt to resolve the dispute by mediation . In March 2012 36 of the former junior partners who were not told about the reverse premium threatened to sue the 32 equity partners who took the £20 million .
|
