Legal Services Act

Tory MPs lobby Truss to get on with whiplash reform

Chris Philp

A group of Conservative MPs will next week lobby justice secretary Liz Truss to press ahead with the proposed personal injury reforms. Last week it emerged that the long-awaited consultation on raising the small claims limit and removing general damages for low-value soft-tissue injuries has been unexpectedly put on the backburner.

October 19th, 2016

“Growing interest” in barrister-run ABSs


The Bar’s regulator will take a “cautious” approach to licencing alternative business structures (ABSs) and look closely at non-lawyer owners to ensure no “naughty” behaviour, but said over the weekend that there is strong interest in the possibilities on offer.

October 17th, 2016

Survey predicts partnerships out, ABS in


Most lawyers expect the law firm partnership model to wither over the next decade, as the legal services market embraces alternative business structures and technology, while ditching hourly billing – according to a new survey.

October 14th, 2016

SRA imposes conditions on PwC’s new ABS licence


The Solicitors Regulation Authority has imposed conditions on PricewaterhouseCoopers’ new alternative business structure licence to ensure that lawyers working for the ‘big four’ firm continue to observe key principles of conduct when handling unreserved work.

October 13th, 2016

MPs start probe into impact of Brexit on legal services market


MPs have launched an inquiry into the implications of Brexit for the justice system, including what it means for lawyers themselves. The justice select committee said it wanted to present the government with “recommendations concerning the questions which it will need to address in the eventual Brexit negotiation process”.

October 13th, 2016

Knights shifts from private equity to direct lending to fund next stage of growth

David Beech

Fast-growing alternative business structure Knights Professional Services has moved on from private equity funding and giving away an ownership stake, and turned to a major European lender to finance to next stage of its expansion. We revealed last month that James Caan has sold his stake in the firm.

October 12th, 2016

First shareholder class action filed against Slater & Gordon

Bruce Clarke ACA Lawyers

The first shareholder class action over the huge fall in Slater & Gordon’s share price has been filed, with a second to follow shortly. Australian law firm Maurice Blackburn said that “in light of the amount of lost shareholder value, the compensation sought is expected to be of very significant magnitude”.

October 12th, 2016

Exclusive: Law firm launches ABS with investment from accountants

James Howell

A West country agricultural law specialist firm has launched an alternative business structure with financial backing from a firm of accountants, with the aim of growing the practice five-fold. Rubric Law took external investment from Moore Scarrott, which is one of the largest veterinary accountancy practices in the UK.

October 11th, 2016

Merger mania takes hold up and down the country

Hugh James merger pic

There has been the usual spate of law firm mergers and acquisitions up and down the country coinciding with the end of the traditional indemnity year, including the continuing growth of national crime firm Tuckers and a Scottish firm entering England for the first time.

October 10th, 2016

ABS moves to fill “gap in market” for law firms in advisory services

Patrick Tolhurst

A solicitor-led investment consultancy has sought an alternative business structure licence as part of its plan to expand and exploit what it called a “gap in the market” for lawyers in advisory services. It has two solicitor partners and until now offered unreserved legal activities.

October 7th, 2016