TCLA Vacation Scheme Applications Discussion Thread 2024-25

[TCLA Community Assistant]

During a VS if we’re mostly and more naturally given work by trainees (particularly our trainee buddy) rather than our supervisor (because they don’t necessarily have much we can help on at the moment), is that problematic, how would it reflect in feedback given? (Assuming our supervisor knows what tasks we’re doing and what we’re up to throughout the day, and assuming we also speak to them on a daily basis so they know we’re present). Thanks in advance for your advice

This is really not an issue - I wouldn't worry about this as it is very normal.

If you/your department are very quiet, maybe ask your supervisor if there are any old tasks that maybe a trainee did for them that you could effectively replicate that you could then compare the trainee's output too and get feedback from the supervisor and/or trainee on.

 

[TCLA Community Assistant]

Just got feedback post AC, and I was rejected because my interviewers were "uncertain about my commitment to the UK" (international candidate, recent graduate from RG London, some work experience in my home country). I am not sure how my interviewers assumed that given: I was not asked anything about my commitment to the UK, and I did make a case about training in the UK (spoke about how I chose to study law in the UK in the first place, cited diversity and opportunities to deal with international law) while answering "why our firm". I was told I was a "fantastic" candidate otherwise, with a unique background and fresh perspectives. Not only am I unsure how to deal with this going forward, but this remark has left a sour taste - it feels like a cop-out, biased way to reject international candidates.

I completely understand your frustrations here. However, based on your brief post (so I am making some quick assumptions), it may just come down to use of language and how that is interpreted.

For instance, if you used language like "training in the UK" without further reference to the career opportunity beyond training, it may come across like you are only focused on the training opportunity, which could have caused the interviewers to think you didn't have a longer term commitment.

 

[Andrei Radu]

@Ram Sabaratnam @Andrei Radu what are some pre-deal protections for a client you'd want when drafting the SPA for a share for share merger? looking at locked box/completion accounts, exchange ratio (?), and making warranties effective?

I think the types of protections you would want depend on the side of the side of the deal you are on and the specifics of the commercial agreement, but, in general, we would look at some of the terms you mentioned:

• Locked box vs completion accounts: these terms are used to offer protection during the period between signing and completion. If a lock box structure is chosen, the price of the purchased is fixed depending on the balance sheet of a company at a given date. The seller will agree to ensure there is no 'leakage' of value after this date (ie no dividents or intracompany payments) and warranties and indemnities will be provided in this regard. Completion accounts structures instead stipulate price adjustments depending on the value and financials of the target business on closing. This is considered more buyer-friendly, as it ensures they are getting exactly their money's worth, but it tends to be slower, more unpredictable, and prone to causing disputes - which is why sellers normally prefer using a locked box structure.
• Exchange ratio: this is particularly important in England, as there is no legal concept of a merger. As such, the process a deal goes through many times involves an acquisition of a "target", but where the target's shareholders receive shares in the "buyer's" company instead of cash. The share exchange ratio just refers to the ratio between the number of shares the target company's shareholders get and the number of shares they give up. Here, we can again have either a fixed exchange ratio or a "floating" one, the later being meant to capture fluctuations of the value of the buyer's shares (however, there will normally be a stipulated upside/downside cap). To ensure protections for sellers, there would normally be some anti-dilution terms included in the deal, to limit the buyer's ability to dilute the shareholders' shareholding by issuing new shares without their consent.
• Effective warranties: to make warranties effective a the buyer will want to use the broadest language possible, so as to ensure that they can make the seller pay for damage caused by any issue in the company. The seller, on the other hand, will look to make the language and scope as restrictive and qualified as possible, aiming to limit potential liability.
• Material adverse change clause: this is a particularly important seller protection, as it gives them the right to walk away from the deal if the target company's business undergoes a material adverse change caused by a significant negative incident before closing.

 

[jojo23]

Starting the day off strong with a BBC rejection 🥵

 

[Legallywhatever]

Hope Michelmores sends out something today 🙏🏼

 

[👩🎓]

Hi @Jessica Booker, what is your advice on following up with firms - i.e., for application updates?

 

[TCLA Community Assistant]

Hi @Jessica Booker, what is your advice on following up with firms - i.e., for application updates?

General rules:

Do you need an answer or do you just want an answer? If there is an actual need (e.g. you need to know for other recruitment processes/commitments), then it is okay to ask. If it is just to give you some reassurance, I generally say avoid asking and trying to sit it out.

If you know many other candidates have heard back and you haven't, it is okay to ask when you may hear back. If it sounds like many candidates are waiting to hear back, then I would just be patient and wait.

If a firm provided a timeline as to when you would hear back and it is more than 1 week beyond that deadline, then you could ask for an update on timelines.

 

[👩🎓]

General rules:

Do you need an answer or do you just want an answer? If there is an actual need (e.g. you need to know for other recruitment processes/commitments), then it is okay to ask. If it is just to give you some reassurance, I generally say avoid asking and trying to sit it out.

If you know many other candidates have heard back and you haven't, it is okay to ask when you may hear back. If it sounds like many candidates are waiting to hear back, then I would just be patient and wait.

If a firm provided a timeline as to when you would hear back and it is more than 1 week beyond that deadline, then you could ask for an update on timelines.

Thank you so much, that really helps

 

[aspiringcitylawyer]

This is really not an issue - I wouldn't worry about this as it is very normal.

If you/your department are very quiet, maybe ask your supervisor if there are any old tasks that maybe a trainee did for them that you could effectively replicate that you could then compare the trainee's output too and get feedback from the supervisor and/or trainee on.

Thanks for your reply!!!

It’s the opposite situation actually. The department is incredibly busy but it is the trainees rather than the partners/senior associates who seem to have the most ‘vac schemer appropriate’ tasks. I have been so busy that I don’t even need to go out of my way to ask for additional tasks but I did wonder whether it was important for me to go out of my way to get tasks from associates/partners directly.

 

[TCLA Community Assistant]

Thanks for your reply!!!

It’s the opposite situation actually. The department is incredibly busy but it is the trainees rather than the partners/senior associates who seem to have the most ‘vac schemer appropriate’ tasks. I have been so busy that I don’t even need to go out of my way to ask for additional tasks but I did wonder whether it was important for me to go out of my way to get tasks for associates/partners directly.

I definitely wouldn't worry about it then - you don't need your tasks to go via partners or associates directly. I would just try to put some effort to engage with them outside of tasks when you can.

 

[👩🎓]

Does anyone have an email address to HR for HFW (not their early careers contact but for general HR enquiries) - cannot seem to find it anywhere?

 

[legallycece]

I have emailed RPC for an application update as I haven’t heard since my original application in October. I know it will be a PFO but just thought it was odd to have heard nothing still. Anyone in same boat ?

 

[TCLA Community Assistant]

Does anyone have an email address to HR for HFW (not their early careers contact but for general HR enquiries) - cannot seem to find it anywhere?

I’d probably call their switchboard and ask for this as it probably isn’t something put out externally where HR is generally an internal function.

 

[trainee4u]

Does anyone have an email address to HR for HFW (not their early careers contact but for general HR enquiries) - cannot seem to find it anywhere?

you could try the contact us form here: https://www.hfw.com/about-us/contact-us/

or maybe email the early careers contact asking them if they can provide a suitable email.

 

[👩🎓]

I’d probably call their switchboard and ask for this as it probably isn’t something put out externally where HR is generally an internal function.

Thank you

 

[👩🎓]

you could try the contact us form here: https://www.hfw.com/about-us/contact-us/

or maybe email the early careers contact asking them if they can provide a suitable email.

Thank you

 

[Olivialee15]

Anyone heard back from Mishcon post summer AC?

They said we would hear back like the beginning of May

 

[BuddyingLawyer744]

faegre drinker PFO - that's the last of the cycle - see you all next year! Starting the GDL at ULaw in London next year self funded with the hope of getting a winter vac scheme.

 

[c.li]

Have been seeing people say that booking student accommodation for summer VSs are a good idea, does anyone know of good student accommodation providers for short-term stays? Currently looking and not sure which sites to trust/are most useful? Thanks!

 

[Logan1101]

PFO Mills and Reeve.

Another dehumanising experience. If I ever get a TC, I will never be loyal to any of these firms or forget how I was treated throughout this whole process.