Conserving cash is still a priority.

After recent partner exits, Halliwells has agreed with its lender to delay repaying a number of professional practice loans. The loans which are borrowed and put into the firm when individuals join the equity are normally repayable within seven days of a partner’s departure. According to Legal Week up to six loan repayments have been pushed out to the end of notice periods, even if the partner has left the firm before their notice is up.

Meanwhile, CMS Cameron McKenna is also holding onto its cash – the firm won’t pay out its firmwide bonus this year. For the second year in a row the firm failed to reach targets which would have seen lawyers and support staff receive 5% of their annual salary. Third time lucky for 2011?

Finally, Barlow Lyde & Gilbert is aiming to save a bit of cash by ditching ‘traditional marketing departments’ – it has laid off three of its five business development personnel. In favour of a cutting edge idea: “Business development is a fundamental responsibility of fee earners that should not be delegated”, says Chief executive officer David Jabbari who isn’t a fan of traditional marketing departments in law firms. Novel.