- Intermediate *6 hours CPD
Many law firms are now considering converting to LLP status to manage their liabilities and risk and to attract new partners in a fast-developing legal and regulatory environment. This course provides a comprehensive overview of the legal and managerial issues involved in conversion and is an invaluable guide for any law firm contemplating such conversion or in the process of it. It will cover:
- Whether and how to convert
- Limiting liability
- Practical aspects of formation and conversion to LLP status
- Forming the LLP partnership agreement - financial issues
- LLP Accounting
- Taxation & insolvency of LLPs
- Forming the LLP partnership agreement - management and governance issues
- Forming the LLP partnership agreement - succession issues
The Solicitors’ Code of Conduct Rule 5 makes the effective running of the firm a matter of professional conduct, requiring partners ‘to be able to produce evidence of a systematic and effective approach to management’. It requires effective systems for supervision, risk management and delegation, and expects training to ensure the competence of all personnel in performing their duties. This course will help you meet this requirement.