Knowles under pressure after DLA kept in dark over personal LawVest stake
Tony Angel puts matter at top of agenda for firm’s Tuesday board meeting after partners express outrage
DLA Piper co-chief executive Sir Nigel Knowles has become embroiled in a partnership storm after it emerged at the end of last week that he and a small number of other partners at the firm had personally invested in alternative business structure (ABS) LawVest without declaring it to the firm’s board or the wider partnership.
DLA Piper took a collective stake last year (28 October 2011), putting £62,500 into the nascent business. While that is the current extent of the commercial relationship between the two organisations, both DLA Piper and LawVest have stated that they expect that smaller DLA Piper clients will begin to use LawVest.