Tag Results

National law firm Simpson Millar is eyeing up the acquisition of non-legal businesses as part of its expansion plans now it has secured an alternative business structure (ABS) licence, it has revealed.

The latest personal injury law firm to become an alternative business structure is eyeing up the opportunity of offering insurers a specialist white-label service, it has emerged. Without the status, “you can’t get off the starting blocks,” said its chief executive.

Admiral Insurance and national law firm Lyons Davidson – which received its alternative business structure licence in November – are having talks about linking up, but it will not involve the law firm being acquired, Legal Futures can report.

Not all alternative business structure applicants have understood what is required of them, which in part explains delays in approving some licences, the chief executive of the Solicitors Regulation Authority has said in a robust defence of the regulator’s performance that also dealt with compliance officer approvals.

Personal injury firms have weathered the recession better than any other area of practice – and are far more likely to be looking for external investment than any other as well, one of the largest-ever surveys of solicitors’ firms has found. It said employment, family and corporate / commercial specialists also performed better than average.