Many Halliwells partners are still in the hole

Some Halliwells partners still owe on loans of more than £500,000, after borrowing money to finance contributions to the firm over the past few years. The troubled firm called on partners to double their usual contributions to the firm in 2008, and earlier this year 28 partners raised a further £2.3m in loans. This is on top of a loan of nearly £20 million which was renegotiated with RBS. The equity partners of the now failed firm may also face claims from a range of stakeholders including salaried partners, suppliers and landlords.

Many Halliwells partners are still in the hole rollonfriday.com Fri, Sep 3, 2010