Market monitor

The traditional law firm model does not support entrepreneurs who want to build and sell a business, according to the solicitor who last week sold his company for £61m.

The alternative business structure owned by global insurance services firm Crawford & Company is expanding into Australia after buying up a leading defendant practice in the country.

Big Four firm Deloitte yesterday issued a statement of intent to the London legal market by announcing that it is to acquire leading technology and digital media law firm Kemp Little.

The former chief executive of DWF has re-emerged as non-executive chair of flexible lawyer business The Legal Director and announced the creation of his own ‘digital law firm’.

Crucible Law opens its doors virtually this week following the closure of predecessor set Charter Chambers in the teeth of the pandemic’s impact on the justice system.

The former secretary-general of the United Nations has condemned Home Secretary Priti Patel’s recent attack on “activist lawyers”. Ban Ki-moon also urged the legal profession to reform itself.

A family law barrister, together with the former chief executive of the Lawn Tennis Association, are looking to shake up the Bar by adopting a corporate structure for their new chambers.

Pioneering listed law firm Gateley narrowly survived a major shareholder revolt against its directors’ remuneration report, with just 51% of votes in favour of approving it.

A solicitor who left private practice to set up an employment law, HR and health & safety business 16 years ago sold it yesterday for £59m to a new big player in the employment law world.

The Covid-19 pandemic risks the huge progress made in using technology to innovate in legal services and find new ways of working, according to a report from the City of London Corporation.

A claims management company that made millions of nuisance calls, and did so in an “aggressive and rude” way has been fined £250,000 by the Information Commissioner’s Office.

Many claims management companies have shown “a poor understanding of, and sometimes attitude to, their regulatory obligations”, the Financial Conduct Authority said this week.

Law firm mergers and acquisitions are increasingly based on net assets rather than a multiple of income or profits, as many do not have any inherent goodwill, an adviser has said.

The number of solicitors on the roll has topped 200,000 for the first time, with 150,000 now practising. Meanwhile, the proportion of solicitors working in private practice has fallen to an all-time low.

The proportion of road traffic accident victims who would be prepared to submit personal injury claims themselves has hit more than half for the first time, a report has found.