Alternative business structures

Insurance specialist Horwich Farrelly has recruited the entire Greenwoods large and complex personal injury team, among a total of seven partners and 36 other staff, from Parabis. Meanwhile Fletchers has revealed its ambition to be a top 100 firm by 2018.

The Royal College of Nursing is planning to follow the British Medical Association in setting up a law firm, it has emerged. Like the BMA, the RCN – which represents over 400,000 nurses – has chosen Cardiff-based NewLaw as its partner.

Private equity-backed alternative business structure Parabis Group has today been broken up into seven pre-pack sales after entering administration, as first predicted this morning by Legal Futures. Meanwhile, another private equity-backed firm, Knights, is set to break into the top 100 with the acquisition of Darbys.

Slater & Gordon has changed the strategy of the personal injury business it bought from Quindell and is now generally not accepting low-value road traffic accident accident claims that are more than a year old because they are harder to win, it has emerged.

The chief executive of what he terms a “bog standard law firm” has described how it secured private equity investment as a “roll-out specialist”. Colum Smith of McMillan Williams revealed that his firm received eight private equity funding offers.

Lord Chancellor Michael Gove indicated yesterday that he would support legislative changes to make it easier to approve and regulate alternative business structures while the scope of the wider review of the Legal Services Act 2007 is worked out.

Top 20 accountancy firm Kingston Smith is expanding its commercial law services, the firm’s new head of legal services has said. Meanwhile, City firm Bates Wells Braithwaite, which became an alternative business structure last year to bring in an accountant to provide non-legal services, is evolving into a firm of business advisers, its managing partner said.

A firm of quantity surveyors, based in a country mansion in Warwickshire, is setting up an alternative business structure in the coach house. Solicitor Warren Berwick said clients needed a “clear distinction”.

The Parabis Group – the first law firm to be bought by a private equity business – is on the verge of being broken up, two months after problems first emerged. Meanwhile, England cricket captain Alistair Cook has helped launch a drop-in centre at Slater & Gordon’s flagship Manchester office.

There are “no strong brands yet” to advise small businesses on legal services and law firms tend to “look the same”, Mark Edwards, vice president and general manager of Rocket Lawyer UK, has said. Mr Edwards said innovation was “not happening as much as it should be” in the legal market.