Law Firms Move to become Publicly Listed Companies
Monday 6 May 2013 @ 4.27 p.m. | Corporate & Regulatory
In an article reported in the Lawyers' Weekly this week, four boutiques have combined to form ASX-listed firm Rockwell Olivier, only the second listed law firm in Australia.
Rockwell Olivier, which is owned by publicly listed Integrated Legal Holdings Limited (ILH), will officially launch on Monday 6 May. The firm is a partnership between Argyle Lawyers and Pacific Legal Network in Sydney, Rockwell Bates in Melbourne and Talbot Olivier in Perth. Slater & Gordon made the move in 2007.
Peter Bobbin, the former managing principal of Argyle Lawyers, who will take the role of Sydney managing principal, admitted that being a listed company would pose an administrative burden to meet financial-reporting obligations under ASX rules.
But he added that this is a small price to pay for being a more entrepreneurial firm unrestricted by the “centuries-old” partnership structure and associated partner politics.
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