Insiders at Addleshaw Goddard have claimed that the firm is making only statutory minimum redundancy payments to the 24 staff it has laid off.

The firm denied this, saying it is "factually incorrect", but refused to provide the figures "for obvious reasons". Reasons that weren't so obvious back in 2008 when Addleshaws was only too happy to discuss the enhanced package it was offering. So presumably it'll be statutory minimum plus a bag of chips and a novelty pen.

    Addleshaws yesterday

That's an embarrassing situation for a firm that has recently announced a 30% rise in profits. But money may be tighter than it looks. Addleshaws invested thousands of hours acting for Berezovsky in his case against Abramovich - a case Berezovsky resoundingly lost last week. And that is seriously bad news for Addleshaws as it acted on a conditional fee arrangement, although apparently it was "no win low fee" rather than "no win no fee". But the firm will still have lost millions, and many partners will be querying why the firm accepted such a fee structure from a man who is a billionaire.


Tip Off ROF

This Week’s News

Comments

Anonymous 07 September 12 10:33

Was AG's reason for entering into such generous CFA terms connected to the fact that at around the same time several of the key matter partners left AG to set up Enyo Law, perhaps hoping to take Berezovsky with them?

Not, of course, that Enyo Law have had much luck with CFA cases in the last few months...

Anonymous 07 September 12 14:39

AG's treatment of its staff and former staff has been beyond despicable. They deserve no loyalty.

Anonymous 07 September 12 23:29

The "many partners querying why the firm accepted such a fee structure" probably did so in the hope the ship would come in. Isn't that what CFA is?
This question is a figment of ROF's imagination. The AB partners all bought into it . Big Time

Anonymous 11 September 12 20:39

Quite a few of those axed were working mums. So much for the firm's trumpeted equality drive. It seems nothing matters more than making sure the partners wallets keep getting bigger.