Trainee Days – Corporate (May 2016)
This week the Cripps Pemberton Greenish in a Day team met up with trainee Laura Sherratt, who is currently sitting in the Corporate team based at our Kings Hill offices.
My Cripps Pemberton Greenish in a day
8:40: I get to work and check my emails. I’m working from our London office today as we have a client meeting here this afternoon. My supervisor is here too, and we have a quick catch-up about the work I have on that day and the meeting later before getting started with our work.
9:00am: The first thing for me to do is complete the next step in an ongoing piece of work for my supervisor. I’m overseeing a due diligence exercise for our client, who is the seller in a fairly simple share purchase. This means answering the buyer’s questions about the company being sold and providing documentation to evidence our answers. I go through the buyer’s questions and fill in the answers I already know, work out what documents will be needed to back this up, and then email the client asking for the rest of the information. I discuss this with my supervisor as I go along; his experience is invaluable in knowing which questions must be answered and which can be left to the buyer’s own investigations.
10:30am: I make a cup of tea and head back to my desk. I have just received an email from a partner asking me to draft a mutual confidentiality agreement between two companies who wish to exchange information in anticipation of a merger. The ‘mutual’ aspect to this agreement means I’m aiming to achieve a mutually beneficial agreement which will be acceptable to both parties, while still, of course, acting in the best interests of our client. Each term therefore requires careful consideration in order to achieve this balance, making this a very engaging task.
12:30pm: I pop out of the office for a sandwich and some fresh air. The office is on Chandos Place, right in the centre of Covent Garden, so there are plenty of tempting places nearby.
1:00pm: I attend a lunchtime training session on recent developments in intellectual property rights. In particular, this session looks at how a person can seek to ringfence their intellectual property rights when their company goes into insolvency. This is a webinar open to everyone in the firm, and members of staff from a number of Cripps Pemberton Greenish offices have tuned in to watch the talk and discuss its implications for our clients. I take notes during the session and scan them in once I get back to my desk, so I can have them to hand if they’re helpful in the future.
2:00pm: It’s time for our client meeting this afternoon. We’re hosting a meeting at our office of our client’s board of directors, so my supervisor and I meet them and welcome them in. The atmosphere is tense as the company will face potential insolvency if it cannot repay its debts when they fall due, which is looking increasingly likely. The directors wish to discuss their options and take advice from my supervisor on their duties to the company in this situation. I take minutes for the meeting, trying to record as much as I can, and listen as my supervisor goes through what is required of the directors and the risks associated with any failure to act.
4:00pm: The directors adjourn the meeting, and my supervisor and I step out to let them take a break. They may now also take some time to consider what action to take as individuals and shareholders, rather than as directors. I tidy up the minutes from the meeting so far and discuss the likely outcomes with my supervisor.
4:30pm: The meeting is reconvened and the directors explain what decisions they have come to. They have decided on a strategy to avoid insolvency and now need to know what to do to put that plan into action. We plan what will need to be done, and by which deadlines, and arrange to meet again in the next week with the relevant documents to be signed.
5:30pm: I get back to my desk and finalise the board minutes from the meetings today. I then finish off the confidentiality agreement from earlier and send it to the partner who asked for it, highlighting a couple of areas I would like his thoughts on.
6:30pm: Once this is done I pack up for the day, walk over to Charing Cross and get the train back to Tunbridge Wells. I’m attending a networking event given by the Junior Lawyers’ Division at the Pitcher & Piano this evening; other trainees from the local area will be there and it promises free drinks and nibbles, so I’m looking forward to it!
Name: Laura Sherratt
Current Seat: Corporate
Previous Seats: Residential Property
Studied: History and Politics at Warwick; GDL and LPC at University of Law Bloomsbury
Outside of work, I can usually be found… running, playing the guitar, listening to old records
Favourite Film: Midnight’s Children