The former chief executive of Quindell Legal Services (QLS) has admitted that he was wrong to sell a business he had built up over 13 years to the troubled plc two years ago. However, Phil Hodgkinson said he had learnt a lot from the “Quindell experience”.
The co-founder of Britain’s only trade union-owned alternative business structure (ABS) has warned high street lawyers that there is nothing to stop it competing with them. He also expressed concern that the profession was becoming obsessed with profit at the expense of the client.
International law firm DAC Beachcroft’s Claims Solutions Group, which employs 900 people across the UK, became an alternative business structure yesterday. Craig Dickson, chief executive of the group, said the move would help it respond to the “fluid” legal claims market.
A judge has told a litigant-in-person that a road traffic accident she was involved in was not to blame for her failure to secure a training contract. Judge Walden-Smith said the “sad fact” was that many “competent individuals” failed to obtain a contract.
Personal injury specialist Minster Law has signed an exclusive two-year contract with national chambers Clerksroom and Parklane Plowden, to provide barristers for its fast and multi-track cases. Stephen Ward, chief executive of Clerksroom, said he hoped similar contracts would follow.
The Serious Fraud Office (SFO) has announced this afternoon that its director has opened a criminal investigation into “business and accounting practices” at troubled Quindell plc. The Financial Reporting Council has launched its own investigation.
Fairpoint Group has bought volume personal injury and conveyancing firm Colemans-ctts for £9m, plus a further £7m, linked to performance. The purchase brings Fairpoint’s income from consumer legal services to 62%.
National Accident Helpline (NAH) and seven personal injury law firms, including Irwin Mitchell, are launching an Ethical Marketing Charter today. NAH will administer the scheme and handle complaints about possible breaches.
The turnover of personal injury claims management companies (CMCs) bounced back 27% to £310m last year as the market began to “stabilise”, it has emerged. Applications by personal injury CMCs for authorisation from the Ministry of Justice also increased by almost two-thirds.
A “fundamental review” of claims management companies – along with a cap on the fees that they can charge consumers – was announced by Chancellor George Osborne in today’s Summer Budget.