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Morrish Solicitors has become the first law firm to take external investment from a trade union. The Leeds practice has formed an alternative business structure with its client, the Transport Salaried Staffs’ Association.

An international law firm has launched a start-up alternative business structure to carry out recovery work after being promised cases with a debt value of £40m by existing corporate clients.

One of the country’s largest debt advice companies has bought a high street law firm to offer additional services to customers and become “a major player in the legal services market”. MoneyPlus Group is backed by private equity firm Palatine.

The prospect of a strike by legal aid lawyers is “regrettable”, but there are lawyers who will operate under the new regime, justice minister Shailesh Vara has insisted. Mr Vara also urged lawyers to embrace the innovation showcased by alternative business structures.

If anyone wanted to see what alternative business structures can achieve, they need look no further than Slater & Gordon. If you take into account the sum announced as going towards buying Simpson Millar – a deal currently on ice – S&G has committed around £150m towards its UK expansion since first announcing the acquisition of Russell Jones & Walker in January 2012. Could it have achieved this without being a listed company? I’m no financial expert, but I doubt it; raising money through share issues has been key, although debt levels are up sharply as well.