Alternative business structures
Quindell raises £200m to fund expansion as doors finally shut on first ABS failure
Alternative business structure (ABS) Quindell Portfolio Plc has raised £200m through a share placement to fund “significant growth opportunities” amid other ABS news that has seen the first failure formally consigned to history.
Small and mid-sized firms eye external investment in bid to take on ABS competition
Small and medium-sized law firms are looking to external investment to counter growing concerns about the impact of alternative business structures, new research has found, even though they are recovering well from the effects of recession.
Irwin Mitchell makes personal injury move with MPH acquisition
Irwin Mitchell has made its first major move in the personal injury market since rival Slater & Gordon began its acquisition spree by taking over well-known Manchester firm MPH Solicitors, Legal Futures can reveal.
ABSs frustrated by acquisition targets that are either not ready or “financial basket cases”
Alternative business structures (ABSs) that are keen to grow by acquisition have failed to make the strides they expected because of the problems of dealing with traditional law firms, it has been claimed.
Falconer: demise of generalist high street firms “inevitable”
Changes in the legal market since the Legal Services Act will accelerate, with competition from new providers and cuts in legal aid leading to a “tragic but inevitable” end for non-specialist high street firms, according to the politician who shepherded the Act through Parliament.
Wiggin eyes transformation into media business after ABS licence award
An alternative business structure (ABS) licence is the next stage of the evolution of well-known media law firm Wiggin into a media business “of which law is a central cog but not the be all and end all”, its chief executive has explained.
SRA imposes controls on relationships within AA group after ABS award
The Solicitors Regulation Authority has imposed a series of conditions on AA Law that aim to control the relationship between the law firm and the breakdown giant’s insurance and claims-handling operations.
Mainland EU states “open to ABS invasion”
Protectionism among the mainland European bars is unlikely to stop determined UK-based alternative business structures from entering their markets, with various avenues open to them, according to new research.
MDPs “struggling” to make it through ABS licensing process
The process of approving alternative business structures seems to be weighted against multi-disciplinary practices and business services firms, it has been claimed. The Legal Services Board also expressed concern over the impact on ABS licensing of senior departures from the SRA.
Saga gains ABS licence with claim to offer “law for the people, not for the lawyers”
Over-50s specialist Saga has today been granted an alternative business structure (ABS) licence to launch a joint venture law firm with fellow ABS Parabis Law. It aims to rebalance a market that “appears to be stacked in favour of the provider rather than the consumer”.
Blog
Mind the (justice) gap: Why are RTAs going up but claims still down?
The gap between the number of road traffic accident injuries and the number of motor injury claims continues to widen, according to the latest government data.
Five key issues to consider when adopting an AI-based legal tech
As generative AI starts to play a bigger role in our working lives, there are some key issues that your law firm needs to consider when adopting an AI-based legal tech.
Bulk litigation – not always working in consumers interests
For consumers to get the benefit, bulk litigation needs to be done well, and we are increasingly concerned that there are significant problems in some areas of this market.
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