Cobbetts' trainees will be saved by DWF
updated on 07 February 2013
Further to news last week that Cobbetts planned to go into administration, with DWF intending to buy the ailing firm, the deal has now gone ahead.
As reported in The Lawyer, DWF has bought Cobbetts in a pre-pack deal, following Cobbetts officially going into administration yesterday. As part of the deal, DWF will honour all of Cobbetts' existing training contracts, both in relation to those trainees already at the firm and those who are due to start in the future.
A total of 492 Cobbetts employees, including 72 partners, will become part of DWF. Cobbetts' finance litigation practice will join Walker Morris. Incasso, Cobbetts' specialist debt recovery team, has yet to find a buyer.
