The firm has been paying out monthly drawings since August after unveiling disappointing vitals for the last financial year. In July, the firm reported a 10 per cent drop in revenue and a 19 per cent downgrade of profits per equity partner (PEP). It also overhauled its remuneration structure in August to introduce an additional 10 points at the top of its equity ladder and a new bonus pool. A partner at the firm has confirmed that Ashurst will restart quarterly payouts this month, though it is not yet known whether partners will receive their full share of profits or just a portion. Historically, Ashurst has paid out less than partners are owed each month if it has insufficient funds to pay all partners.
Sources: Legal Week; Legal Business
Email your news and story ideas to: [email protected]
