TCLA Vacation Scheme Applications Discussion Thread 2021-22 (#1)

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AriLor

Standard Member
Jan 18, 2022
9
29
Nada on DLA - ACs and PFOs seem to be trickling in pretty eratically
Anyone still not heard back from DLA piper post wg? and Taylor Wessing post initial app for that matter? the silence is deafening
Yes on TW. Got invited to an arctic shore. Not sure if it was an automatic thing that everyone did though? Haven't heard back since the arctic shore though
 
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esther18

Active Member
Junior Lawyer
Feb 4, 2021
14
111
I'm so glad that's great news!

So personally I found out the same day. This shouldn't inform future expectations though as I know others who were successful who did not hear back so quickly. I think it depends on how smoothly the discussions behind the scenes go etc. Things may also vary in different years etc. so do not worry if you have not yet heard!

Do let me know when you find out though! How did you find the interviewahh
I'm so glad that's great news!

So personally I found out the same day. This shouldn't inform future expectations though as I know others who were successful who did not hear back so quickly. I think it depends on how smoothly the discussions behind the scenes go etc. Things may also vary in different years etc. so do not worry if you have not yet heard!

Do let me know when you find out though! How did you find the interview?
That’s such a relief to hear, thank you!

The interviews went fairly well and I actually found the scenario interviews with the partners pretty enjoyable. It was much more like a conversation than an interview!
 
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George Maxwell

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Gold Member
Premium Member
Junior Lawyer 50
Oct 25, 2021
552
1,084
That’s such a relief to hear, thank you!

The interviews went fairly well and I actually found the scenario interviews with the partners pretty enjoyable. It was much more like a conversation than an interview!
Hi @esther18,

That's great to hear! I am really happy that you enjoyed the experience 🥳 🥳

I just found it exciting to have the opportunity to talk through a scenario with someone so experienced while bouncing ideas off them about how to go about tackling it. I felt like I learned a lot.

Out of interest, have you written down the questions you were asked and taken note of what went well/could have gone better?

I know you have only just done the interview (and are still probably mentally exhausted by the whole experience!), but doing this can be invaluable for personal development (I found anyway!)
 

Miki3999

Legendary Member
Premium Member
  • Jun 2, 2019
    233
    586
    Does anyone know how majority shareholders in a huge company make money if the company doesn’t issue dividends and they don’t plan on selling their shares ever?
    In that case it would be difficult for shareholders to make money. Shareholders, who are not the management (the company's management sometimes receives directors' fees in lieu of dividends, especially in small private companies) have only two options to make money from their investment: through dividends or through value growth (or both). If the company is not paying dividends, it is unlikely that the shareholders would be willing to keep the shares (unless they have hopes for a change in the dividend policy). What also sometimes happens is that, in small companies, when directors' fees are paid out in lieu of dividends, certain minority shareholders, who are not willing to sell their shares, can be effectively excluded from any profits, which may give them a right to raise an action for unfair prejudice under CA 2006, which may subsequently lead to a buy-out by the other shareholders at "fair price".
     
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    George Maxwell

    Administrator
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    Premium Member
    Junior Lawyer 50
    Oct 25, 2021
    552
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    In that case it would be difficult for shareholders to make money. Shareholders, who are not the management (the company's management sometimes receives directors' fees in lieu of dividends, especially in small private companies) have only two options to make mpney from their investment: through dividends or through value growth (or both). If the company is not paying dividends, it is unlikely that the shareholders would be willing to keep the shares (unless they have hopes for a change in the dividend policy). What also sometimes happens is that, in small companies, when directors' fees are paid out in lieu of dividends, certain minority shareholders, who are not willing to sell their shares, can be effectively excluded from any profits, which may give them a right to raise an action for unfair prejudice under CA 2006, which may subsequently lead to a buy-out by the other shareholders.
    Hi @Miki3999,

    This is a great awesome stuff. Thank you for sharing! 🏆
     

    Homer

    Star Member
    Premium Member
    Jan 12, 2021
    49
    102
    Hi everyone,

    Has anyone completed a VI with Latham & Watkins either for their Sumer VS or their Winter VS (2021-2022 cycle). If so, I'd very much appreciate any insight you could give me into how to prepare and the nature of the questions asked. This is my first VI, so quite green in that regard. Thanks in advance !
     

    emilyrose99

    Star Member
    Nov 3, 2018
    48
    137
    Is it ever appropriate to get in touch GR if you’ve not heard anything about your application for a while? Would it be beneficial I.e. showing you’re on top of it, or more of an inconvenience to the GR team?
     

    TC fiend

    Legendary Member
  • Apr 27, 2021
    191
    429
    Is it ever appropriate to get in touch GR if you’ve not heard anything about your application for a while? Would it be beneficial I.e. showing you’re on top of it, or more of an inconvenience to the GR team?
    I think if you’re getting the sense that everyone else has heard back multiple weeks ago then it’s alright to nudge. Otherwise it’s just annoying - they’ve received hundreds (or thousands) of applications and have other responsibilities as well. They’ll get back to you when they can :)
     
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    Rob93

    Legendary Member
    Dec 29, 2020
    627
    1,677
    Does anyone know how majority shareholders in a huge company make money if the company doesn’t issue dividends and they don’t plan on selling their shares ever?
    Generally if they never sell and there are no dividends then they will make no money off the shares themselves.

    One thing people will do, though, is take shares that have good growth, hold them, and borrow against the value of those shares at wildly low interest (borrowing more as the value increases, at an interest rate lower than the average annual appreciation of the shares) and put that borrowed money into cash-generative investments or shorter-hold trading strategies. May periodically need to refinance the debt. Similar moves are possible with margin trading where you post your HODL shares as collateral, for those who have access to it.

    Obviously this can be risky if the shares you have as collateral + your other investments tank at the same time and you get a margin call or default cause of capital inadequacy or something like that.

    This also mostly only works with public companies, much harder to use private shares as collateral because 1) the shareholders' agreement probably won't let you and 2) the banks don't want to become minority shareholders in a private company with no liquidity
     
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