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).
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.