Five partners of Clyde & Co have resigned from the global marine group with plans to set up a boutique firm.
The new firm will be named Preston Turnbull, after two of the departing partners. Andrew Preston, who joined in 1994 and became a partner in 2000, is to leave along with Elizabeth Turnbull, co-chair of the Latin American strategy committee who joined Clydes in 2009. Also joining the firm are Fanos Theophani and Rob Collins. The new firm will be a marine trade and commercial litigation boutique firm, with more details to follow. Clydes have confirmed that Ed Mills-Webb has also resigned with immediate effect.
In July Clydes confirmed that it had suspended two lawyers including a partner after alleged breaches of accounting rules. The firm referred the two lawyers to the Solicitors Regulatory Authority (SRA) in relation to alleged breaches of obligations in the SRA handbook, including its Code of Conduct and the Accounts Rules. A spokesperson for Clydes said “We continue to assist the SRA fully with their investigations. It would not be appropriate to comment further at this stage.”