TCLA Vacation Scheme Applications Discussion Thread 2023-24

[Bread]

I am once again asking if anyone has heard from Withers post test — saw someone got a vac scheme, are they still interviewing or should I assume PFO?

 

[futuretrainee2025]

Does anyone know the answer to this question? Never considered this point
"What could the firm do if the parties want to sign the acquisition document but are still waiting for regulatory approval?"

memorandum of understanding with a lock-out agreement? its not legally binding but I suppose it lays out the terms and agreements prior to the actual transaction. in an interview, id maybe ask for more clarification and why the parties want to sign before approval - is it to prevent the seller from engaging with other parties? etc. im not sure but sounds like an interesting question

 

[EllaClayton]

I am once again asking if anyone has heard from Withers post test — saw someone got a vac scheme, are they still interviewing or should I assume PFO?

Nope I’m over a month post test and nothing. Did see on here a while ago someone had interviewed in Jan but completed the test last year. I think they are just processing all the earlier candidates and probably award places on a rolling basis

 

[nya]

Does anyone know the answer to this question? Never considered this point
"What could the firm do if the parties want to sign the acquisition document but are still waiting for regulatory approval?"

Maybe insert a conditions precedent clause in the acquisition document stating that completion of the transaction will be subject to any necessary regulatory approval?

 

[NikkiT]

Does anyone know any details about the Cooley AC/What to expect?

 

[futuretrainee2025]

Maybe insert a conditions precedent clause in the acquisition document stating that completion of the transaction will be subject to any necessary regulatory approval?

bingooo I think this is it

 

[Cherikon]

Anything from Shoosmiths?

 

[Chelsea101]

Anything from Shoosmiths?

Nope, manifesting good news from them this week though!

 

[LehmanBrothersRiskManagementIntern]

Anything from Ropes & Gray? ACs starts from next week and it makes me wonder if they have already invited people to the ACs?

 

[Untilwinter]

memorandum of understanding with a lock-out agreement? its not legally binding but I suppose it lays out the terms and agreements prior to the actual transaction. in an interview, id maybe ask for more clarification and why the parties want to sign before approval - is it to prevent the seller from engaging with other parties? etc. im not sure but sounds like an interesting question

Wow thank you so much for the input. I didn't give a thought about why they might want to sign first but I should have considered that first. Wonder why as well hmm..
Any insight into this would be appreciated

 

[Untilwinter]

Maybe insert a conditions precedent clause in the acquisition document stating that completion of the transaction will be subject to any necessary regulatory approval?

make sense! thank you for the insight

 

[isabelleking_x123]

Anything from TLT and/or Stephenson Harwood? (London Offices, SVS)

 

[mhs234]

Anything from Shoosmiths?

No, feel like i’ll get a generic pfo on Wednesday 28th 😅

 

[PFO King]

Yes including the post-app test have you been invited to the job sim or rejected yet?

I know someone who got invited to the job sim on the 21st and someone who got a rejection mail the same day. I am still waiting for a response regarding the job sim or a rejection. So we're in the same boat

 

[The-PFO-Collector]

Does anyone know the answer to this question? Never considered this point
"What could the firm do if the parties want to sign the acquisition document but are still waiting for regulatory approval?"

Buyer side: Having the regulatory approval will most likely increase the price. If you have already negotiated a price pre-regulatory approval, then the seller cannot increase it.

Property example: If you are selling land, and Buyer 1 is a house builder and has the intention to build 1000 flats on it to sell for £250K each, they may put in a bid of £X. The seller may think, the offer from Buyer 1 is great, Ill take it. Buyer 1 then goes out to get planning permission (costing them time and money), and after 6 months they get it. Now, they know they will rake in the money once they have built the flats, However, the seller now feels they have sold it too cheap and want to go out to tender again with regulatory approval that was granted. Seller now wants £2X.

 

[Aga123+]

Ropes & Gray rejection - applied Nov 1st

 

[LehmanBrothersRiskManagementIntern]

Anything from Ropes & Gray? ACs starts from next week and it makes me wonder if they have already invited people to the ACs?

just got a pfo. Damn, looks like no TC for me this year

 

[Legally_Brunette1999]

I just want to know when IM will send me my PFO so I can get on with my life at this stage - I already know that I won't be getting the AC, why have they made me wait nearly three months without an answer?! At this point even if I get the AC I might have to reject it!! I have nonrefundable plans for next month!!

 

[Percypig12]

Still nothing from Ropes...

 

[PFO King]

I just want to know when IM will send me my PFO so I can get on with my life at this stage - I already know that I won't be getting the AC, why have they made me wait nearly three months without an answer?! At this point even if I get the AC I might have to reject it!! I have nonrefundable plans for next month!!

I havent recived anything from them either. i only know one other person who has an AC invite but for the cambridge office.