A day in the life of a Trainee in the Corporate Department….
My day starts around 8.30 when I catch up on emails and check with fee earners for any updates on matters which I am assisting with.
My first piece of work for the day is to draft an email advising the trustees of a charitable trust on their trustee obligations in relation to purchasing a non-charitable company. I find a really useful GOV.UK guidance note on this, along with information on Practical Law and so along with the trust’s articles of association, and sections of the Charities Act 2011, I draft an email to the client and send it over to the fee earner to review.
I then assist another fee earner whose client has entered into refinancing arrangements to finance the purchase of the assets of a group of companies. This is a really interesting matter with a number of borrowers and guarantors involved. I read the matter file to bring myself up to speed with the transaction and then draft the refinancing ancillary documents, which will be sent to the lender’s lawyer for approval. I then send these over to the fee earner, along with copies of the constitutional documents for each company for review.
I then receive an email from a client enclosing some pension scheme information for one of their companies which we are assisting with the sale of. In particular, I review the final salary scheme to make sure that it has been recently audited and that all funding requirements have been met. The trustees of this pension scheme appear to have been very proactive in addressing the scheme funding shortfall, and there are currently no reported funding issues. I look over the remaining pension documentation for the other company pension schemes and email the client with requests for any outstanding information we will need to complete our pensions due diligence.
As I am working from our Kings Hill office, I head off to the local gym for a 30 minute exercise class with another member of the team. This is the first time I have done this class, and sure enough, two days later whilst writing this blog, I am aching and the stairs are a definite no!
Back in the office, I receive some feedback from a fee earner on a Shareholders’ Agreement which I recently drafted. I make final amendments to the document and draft an email to the shareholders providing an overview of each term of this agreement.
I then complete some research for one of our partners for a potential new client. This is a great business opportunity as the client is a prominent longstanding local business with a really interesting past. I review the Companies House records for the companies within the group, and then compare group company accounts over the last three years. I also find a recent interview with the now Chief Executive Officer, who talks about the long history of the business, his plans for its future and some background information on his hobbies. I compile a report to the partner and email this over to her.
Finally, my last piece of work for the day before heading home is to calculate the funds raised to date for our charity of the year CLIC Sargent. As part of the fund raising, we have a team of cyclists who have just completed a fund raising bike ride from our London office to Paris. The funds raised so far are over £12,000, and with other fund raising initiatives, including our monthly dress down day and bun run, I calculate that in just over four months we have raised over £16,500. I prepare a breakdown of all the different sources of these funds raised ahead of the charity committee meeting tomorrow.
I then update my to do list, which includes completing a legal due diligence enquiries report for a share sale, drafting some ancillary documents for a management buyout and a disclosure letter for a share sale.
My daughter is home from university for a few days, and so I take the opportunity at about 6pm to close down my computer and head home….. just as I’m leaving the office, she texts to let me know that she has bought her washing home with her! So we have a take away whilst the washing machine goes into overload, and my daughter talks about uni life. A great end to a great day!