Latest news
Quindell takes further action to stem share price fall
Alternative business structure Quindell Portfolio has issued a “further clarification” over its financial position in a bid to stem a continuing slump in its share price. Quindell shares rallied this morning, having fallen by more than half last week.
Law Society plots paralegal accreditation scheme
The Law Society will launch a paralegal accreditation scheme later this year for non-qualified staff working in organisations regulated by the SRA, it has emerged. It will be for all staff from secretaries to those with an LLB or LLB/LPC and no training contract.
Legal price comparison websites “begin to sign up” to good practice standards
Five legal price comparison websites have signed up to good practice standards issued by two regulators and the Legal Services Consumer Panel – although they are to remain voluntary, with no external validation.
North-west ABS targets national practice after London launch
A top north-west alternative business structure (ABS) has continued its expansion by moving into London. Fresh from its ABS licence approval in January, Stephensons is seizing on the “flexibility” of its new structure to muscle in on the London conveyancing market.
Quindell: no reason for share price plummet
AIM-listed alternative business structure Quindell Portfolio has been forced to issue a statement that it knows of “no valid reason” for the sudden 45% fall in its share price. It was trading at 13.25p at the end of last week, but since issuing its 2012 results on Tuesday, the price had fallen to 7.34p.
To be an ABS, or not to be: Shakespeares becomes one of largest firms to gain licence
National firm Shakespeares has become one of the largest law firms to date to become an alternative business structure. The ambitious firm, led by chief executive Paul Wilson, has been on the acquisition trail in the last five years, with six mergers.
Number of CLC-regulated ABSs reaches 35
The number of alternative business structures approved by the Council for Licensed Conveyancers has risen to 35 in recent weeks, but several of the new licensees have branded the process as “unnecessary” and delivering “no benefit” to their businesses.
PI diversification continues as Antony Hodari snaps up Tandem Law
North-west firm Antony Hodari has purchased litigation specialist Tandem Law in further evidence of personal injury practices diversifying in the wake of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 coming into force.
Slater & Gordon to stump up £23m for triple acquisition
Slater & Gordon (S&G) is paying around £23m for its triple law firm acquisition, with more deals likely over the next 18 months, it has emerged. It said successful integration of the three will make a “significant contribution to the financial performance of S&G’s UK operations”.
SRA: we expect more large law firms to go under
More large law firms are expected to fail over next few years and the risk of theft of client funds is rising, the Solicitors Regulation Authority has warned. It has also speculated that in future indemnity insurance or even policies purchased by clients may need to cover the cost of intervening in firms.
Blog
When AI becomes a line on the client’s bill
On 23 June, Legora changed how it charges. The platform announced that its most capable product was moving away from a flat per-seat licence fee to consumption-based pricing
Which legal AI will still matter in 12 months?
Four years ago, when senior partners asked me which legal AI they should buy, I would have walked them through a vendor comparison. Now I tell them the question is wrong.
Supreme Court redraws line between member and employee in LLPs
For anyone advising professional services firms on LLP structuring, and of course for those in LLPs themselves, last week’s Supreme Court ruling is an essential read.
