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The merger, that was set to go forward on November,1st, after passing the original to be signed date, moved from the first of September, to mid September, to the end of September. Here we are at the middle of October, more than a month past the first signature date. All parties state that there is no actual date set, at the time of press.
The law firms have began talks during the first part of July about creating a merger between the two practices. By the end of July merger discussions started to get serious. One of the benefits of a merger between two law firms is that they will gain a larger client base. Another good reason to merge, if both parties are in agreement of all the conditions that apply to the merger, is the combined assets. The two firms get the best of both world’s as far as employees are concerned, which can benefit both parties.
Clyde and Company’s senior partner, Michael Payton, informed the press that, while the companies keep postponing the sign date, the actual merger, according to him is “not of any relevance.” The merger will take place on November 1st, as scheduled.
Barlow, Lyde and Gilbert plan to cut 15 out of their staff of 100, before the two firms fully merge together. One part of insurance law, reinsurance, tends to see the most layoffs. Areas of law including negligence, litigation and pensions do not tend to see employment cuts because of the need for expert advise in this field. More than likely, Barlow Lyde and Gilbert willcut staff in reinsurance and other sections that don’t see as much need for their services.
Anyone who decides to transfer to Clyde and Company, from Barlow, Lyde and Gilbert must sign a contract that binds them to the company for a total of 18 months, according to writer Joshua Freedman, in an article written for Lawyer.com. This will ensure that that the experience of the associates will benefit Clyde and Company. Clyde and Company, nor BLG won’t loose by retaining these associates.
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Word has leaked to the press that Victoria Sherratt, who works in insurance for BLG is leaving to work for Reynolds Porter Chamberlain (RPC.) Her experience will benefit RPC in that she brings a high level of experience working with business interruption and is a wiz at handling fraudulent claims.
BRG will keep several important attorneys on their payroll, including their senior partner Simon Konsta. Konsta started his position as a senior partner in 2008. Not only will he retain his current position title, he will have a new seat on the management board. Another high-level member of BRG, David Jabbari, will stay on board, with a title of chief operating officer.
