Law Firms

Pinsent Masons

LLP status goes live as Pinsents taps Eversheds for property duo

Author: claire.ruckin@legalweek.com

Published: 06/03/2008 05:55

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Pinsent Masons has hired two property partners from rival Eversheds as the top 20 UK firm last week went live with its conversion to a limited liability partnership (LLP).

Eversheds’ Leeds property head Gerry Mulholland is set to join Pinsents’ Leeds arm as a partner in the property team. He will be joined by planning and compulsory purchase specialist Bob Pritchard, who is a senior associate at Eversheds’ Leeds arm.

Mulholland specialises in real estate finance, acting for lenders providing development and investment finance to property companies, investors and
individuals.

The hires come as Pinsents last week became the latest major law firm to convert to LLP status.

The 1 March conversion to an LLP, which was backed via a partner vote last November, will apply to both full equity and fixed-share partners, though voting rights and internal management will remain the same under the new structure.

The firm’s offices in England and Scotland will join together under the LLP, with Pinsents’ international offices in Beijing, Shanghai and Dubai expected to convert at a later stage.

Pinsents’ outsourcing partner Iain Monaghan, who heads up the committee handling conversion, told Legal Week: “This is an idea we had been contemplating for a while. As there was no advantage in being first we waited until it was the right time for the firm.”

He added: “We have been expanding over the past two years and partners joining us expect us to become an LLP rather than a partnership — it is increasingly seen as the only way to go.”

Other top 50 UK law firms to have recently converted to LLP include Nabarro, which voted in favour of the conversion in January, and Ashurst, which switched at the end of last year.

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