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Kimbells converts to LLP status

In a move to enhance the delivery of its legal services, Milton Keynes based commercial law firm, Kimbells, has announced that as of 1 May 2002, it has converted to a limited liability partnership (LLP).

23 May 2002

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Kimbells converts
to LLP status

In a move to enhance
the delivery of its legal services, Milton Keynes based commercial law firm,
Kimbells, has announced that as of 1 May 2002, it has
converted to a limited liability partnership
(LLP).

From April 2001 the Limited Liability
Partnership Act permitted the incorporation of LLPs in England and Wales for the
first time, and Kimbells took the decision that a corporate structure was more
relevant to the modern commercial
environment.

It is hoped that the new LLP structure will bring benefits to
clients in that partners are left freer to concentrate on client servicing, while the
Chief Operating Officer takes responsibility for running the business of the
firm.

Some of the larger legal and accounting practices have
opted for LLP status, but Kimbells is among the
first of the smaller firms to have made this
move.

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Risk & Compliance