Firm Calls Meeting to Remove Partner, But Doesn't Get Enough Votes
Oops. Senior executive partners at LG called a meeting last month in order to vote to remove an equity partner who allegedly was under-performing.
But when the ballots were tallied there weren’t enough, so the unidentified partner remains with the law firm, reports Legal Week.
Because a number of partners abstained, the 80 percent approval required for removal under the firm’s partnership deed wasn’t achieved, says senior partner Penny Francis, adding that the firm will now move on with business as usual.
“There could be many background issues as to why a vote to remove an equity partner comes about,” partnership specialist Richard Turnor of Maurice Turnor Gardner tells the British legal publication. “It is very interesting and at the very least embarrassing if partners do not agree with management on such an important issue.”
