Eversheds Suspends Profit Payout for Two Quarters
Eversheds has suspended two quarterly profit distributions to partners as more evidence emerges of law firms battening down the hatches for a full-blown recession. The U.K. firm's equity partners will miss out on two quarterly payments due in November and February 2009. The decision to defer the payments, which was taken by Eversheds' senior management, will be reviewed in March when the firm looks at capital requirements for next year.
