-
Solicitors hubEverything you need to know about becoming a solicitor
-
Search training contractsSearch for a training contract at nearly 1,000 organisations
-
Training contract deadlinesA comprehensive list of training contract deadlines
-
Vacation scheme deadlinesA comprehensive list of law firms' vacation scheme deadlines
-
Meet the Lawyer
Read how today's lawyers went from student to qualified lawyer
-
Meet the Recruiter
Advice from recruiters on acing your applications and more
-
Vacation Scheme Insiders
Get a sense of what firms' vacation schemes are really like
-
Brochures
Your essential first step in identifying the firm for you
-
Practice Area Profiles
Hear from solicitors working in specific practice areas
-
Barristers hubEverything you need to know about becoming a barrister
-
Search pupillagesSearch for a pupillage at nearly 200 barristers' chambers
-
Pupillage deadlinesA comprehensive list of pupillage deadlines
-
Meet the Lawyer
Read how today's barristers went from student to qualified barrister at the Bar
-
Practice Area Profiles
Hear from barristers working in specific practice areas
-
Types of chambers
Find out more about the different types of chambers
Interested in a future career as a lawyer? Use The Beginner’s Guide to a Career in Law to get started
Find out about the various legal apprenticeships on offer and browse vacancies with The Law Apprenticeships Guide
Information on qualifying through the Solicitors Qualifying Exam, including preparation courses, study resources, QWE and more
Discover everything you need to know about developing your knowledge of the business world and its impact on the law
The latest news and updates on the actions being taken to improve diversity and inclusion in the legal profession
Discover advice to help you prepare for and ace your vacation scheme, training contract and pupillage applications
Your first-year guide to a career in law – find out how to kickstart your legal career at this early stage
Your non-law guide to a career in law – everything you need to know about converting to law
-
Education hubThis hub covers all aspects of legal education and training
-
Search law coursesSearch law-related courses across the UK
-
Law school prospectusesIdentify the right law school for you with these prospectuses
-
FinancesFind out about sources of funding at each stage of the qualification process
-
Undergraduate degree
Find out what an undergraduate degree is
-
Law conversion courses – PGDL
Find out about what you learn and where to study
-
Legal practice course – LPC
Find out what the LPC involves and whether you're eligible
-
Bar courses – BPTC/BPC
Find out about the course required to qualify as a barrister
-
SQE preparation courses
Find out about the brand-new SQE preparation courses
-
Commercial QuestionArticles from law firms designed to get you thinking commercially
-
FeaturesThese are designed to increase your knowledge of the profession
-
LCN SaysInsights from LCN and contributors from the world of law
-
The OracleAdvice on issues from funding your studies to getting experience
-
LCN Weekly NewsletterKickstart your legal career with the latest content in our newsletter
News
City law firm orders junior partners to pay up to £42,000
updated on 12 June 2023
Reading time: one minute
Junior partners at City law firm Withers LLP are facing a cash call of up to £42,000, dependent on their seniority, in an attempt to make partners “participate more fully” in the business.
Withers is the first City law firm to make a cash call (ie, a request from the firm to its shareholders asking them to provide money); however, the firm argues that the move isn’t related to the current economic slump as the decision to issue the call was being made two years ago.
The London headquartered firm, which specialises in services for ultra-high net worth clients, claims the move is about ensuring partners “are more fully involved in the ownership of the business”.
The cash call, which will impact approximately half of the firm’s 220 partners, is expected to generate between £2.2 to £4.6 million.
This isn’t the first time the firm has called on partners to financially contribute to the business – in 2012/13 senior equity partners were also told to pay up.
However, the firm did note that no changes had been made to the capital requirement of senior equity partners, who in 2022 alone secured the firm a profit of £668,000 per equity partner.
