Firm of the Year
Top Stories 2016
Top Asia Stories 2016
Check out this week's top Asia-Pacific news on the
Asia Pacific Headline
For all the breaking news, follow RoF on Twitter and Facebook
showcases the style, the beauty and the sophistication for which the legal profession is so rightly known.
Send Us Your News
Ashurst partners' pay put on hold
30 November 2012
have seen their distributions deferred after a slump in business.
The firm's paymasters have cancelled this quarter's distribution of profits after half-year revenues slipped 6% on last year, as reported in
. Instead of receiving their customary wedge, partners will have to survive on their (probably still mahoosive) monthly drawings until at least next Spring. And there's no guarantee it will be paid then unless work picks up: a spokeswoman for the firm would only say that they "
expect to do so in the next quarter
". A cut-price festive season looms...
Ashurst staff offer their sympathies
Ashurst does have one card up its threadbare sleeve, however. Unlike many firms, when it falls short it refuses to borrow money to help pay distributions, preferring to stay debt-free. And average profit per partner is actually up from £723,000 last year to £744,000 this year. So the prudent partners of Ashurst may be in ruder health than their blinged-up peers. Something to cling to when they're eating cold beans from a mug for the ninth week running.
Feel free to enter your comments on the news story below, subject to our
terms and conditions.
Please note that comments are subject to moderation and so will not appear immediately.
Please keep it nice. Thanks.
They are really good to support staff, they would work for free if they could.
Weekly Email Update
To receive a weekly European email update, please login or register to RollOnFriday.