Law Society Posts a $3 Million Loss after a ‘challenging year’
The Law Society has posted a $3 million loss last year after five redundancies, shifting from its earthquake-prone Wellington building.
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The annual report to June 30, 2020 saw a $3 million loss following a surplus of over $500,000 the previous year. The results were delayed by the NZLS after its ‘very disrupted’ year, which were reported as being ‘incredibly challenging’.
Revenues remained level at $21.9 million with expenses up by $3.8 million to a hefty $24.8 million. Restructuring and redundancies have occurred with a first-ever appointment of an Auckland-based Chief Executive, former DLA Piper Chief Operating Officer Joanna Simon appointed to a role that will see her split her time between Auckland and Wellington.
She replaces Helen Morgan-Banda who was appointed in April 2019 and left as part of a so-called ‘planned change’ in the slimmed-down management team running the NZLS. She had been appointed to help run the organisation through a transformation in what was described as a ‘once-in-a-generation’ set of changes to the NZLS.
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