Having spent hours poring over this week’s analysis of the fall of Halliwells, I come today not to bury the firm but to praise it. With Legal Week having spoken to dozens of close observers of the firm’s collapse, it became apparent that some have conveniently forgotten what Halliwells achieved during its striking ascent.

Perhaps that is inevitable. It is human nature to lean heavily on hindsight when condemning the decisions of others – it is a habit that journalists, particularly, fall prey to. But individuals, especially those running businesses, don’t have the benefit of hindsight.