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I really don't understand why there is an expectation that law firms should only operate as traditional partnerships. Most business I deal with on a day to day basis have limited liability. I take the commercial risk of doing business with them knowing that if they go under I will not get paid or I will have paid for something I will not receive.

Even if BD had been a traditional partnership the individual partners simply would not have the financial resources to cover all of the firms liabilities. Even though BD are an LLP I would expect that given the size of the firm individual partners would have been asked for PG's from lenders.

The tone of some of the comments seems to hark back to the days of debtors prisons. We did away with these for a reason - they didn't work.