Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
By Nick Hood
News of how the energetic pursuit of the safe haven of a merger by London law firm Davenport Lyons had ended in a pre-pack rescue deal by its smaller West End rival Gordon Dadds was broken in truly modern form last week when a change was made to the firm’s Wikipedia entry, announcing that it had gone in to Administration. This was the last sad act in an on-off saga as talks first started and then swiftly terminated with Shakespeare’s and Howard Kennedy FSI.
The final details of the Gordon Dadds deal may emerge over time, but it is clear that in addition to its creditors, at least some Davenport Lyons staff have paid with their jobs for the partners’ financial ambitions, in particular the very recent move to new offices in Covent Garden.
The increased property burden is unlikely to have been the sole cause of Davenport Lyons’ demise. More likely the firm tripped over one of the inescapable realities of commercial life: recovery kills more businesses than a recession ever does, because of the strain it puts on depleted working capital resources. In the case of professional practices, this has be
Free trials are only available to individuals based in the UK
* denotes a required field
**excludes LexisPSL Practice Compliance, Practice Management and Risk and Compliance. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial. See our full terms here.
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
Nick Hood is a Director of the legal costs firm, Kain Knight. He is a
Chartered Accountant and also an insolvency practitioner with the
Begbies Traynor Group, as well as a business risk analyst for corporate
health monitoring experts, Company Watch.
Email: email@example.com Tel: +44 (0)7967 658 296
0330 161 1234