DLA Piper Asia Says Partners Must Inject Capital

UK Legal Week Magazine has reported that..

DLA Piper’s Asian arm is set to introduce measures requiring all partners to make capital contributions to the firm


Legal Week write:

The move will bring the firm’s Asian presence in line with DLA Piper International — including the UK — with all partners paying capital contributions increasing over a three-year period.

To date, no partners in Asia — either fixed share or equity — have been required to make contributions, as under the existing structure all Asia partners benefit from a ‘free in, free out’ policy. The current plan is therefore unpopular with some — particularly as it will change partners’ tax status.

It is understood that the current plans — being pushed through by joint chief executive Nigel Knowles and Asia head Alistair Da Costa — are likely to come into effect next year with final details of the arrangement still under discussion.

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