Alternative business structures
Business Growth Fund to consider more law firm investments
The growth capital fund which became the first external investor in a high street law firm last week has said it will consider investing in other legal practices.
High street first as multi-office firm takes £5m investment and targets legal aid growth
McMillan Williams, which has 20 offices in London and the south of England, has become the first high street law firm to take external investment after securing a £5m private equity deal.
SBR changes could cause “irreparable damage” to solicitor brand, warn City lawyers
Plans by the Solicitors Regulation Authority to relax the separate business rule could cause “irreparable damage” to the solicitor brand and “drive significant numbers of the profession” into the unregulated sector, the City of London Law Society has warned.
Gunnercooke uses its law firm model to set up consultancy business
Alternative business structure gunnercooke has taken its pioneering law firm model of only employing senior lawyers and used it to set up a consultancy business.
Number of Quindell shareholders hoping for compensation reaches 500
The number of current and former shareholders in AIM-listed alternative business structure Quindell registering with a Liverpool law firm for a potential group action has doubled to over 500.
SME law firms “face the most threat” from new entrants, survey finds
Small and medium-sized law firms “face the most threat” from new entrants and increased competition, a wide-ranging survey of the UK legal services market has found.
“I want to dominate the market,” says entrepreneur as he secures £12m funding for clin neg ABS
An entrepreneur has revealed plans to combine a claims management company, a consumer website and the clinical negligence department of a top 100 firm to form a market-dominating alternative business structure.
International insurance group to launch ABS for corporate clients
Thomas Miller, an international group of companies providing specialist insurance, investment and professional services, is to launch an alternative business structure next month.
High Court enforcement officers and niche property firm become latest ABSs
A debt collection business has become an alternative business structure (ABS) and can now offer an end-to-end service that enables it to collect, litigate and enforce clients’ debt.
New Quindell chairman attacked over share option “conflict of interest”
Quindell was the centre of renewed criticism this week over the grant of over 8m in share options to Richard Rose, the AIM-listed company’s new non-executive chairman, whose appointment was announced on Monday.
Blog
On good authority? GenAI and the reputational risks to law firms
As GenAI’s influence grows, so do the risks which are already playing out in courtrooms across England and Wales, where some early adopters are setting precedents they would rather not.
Why this is the year for law firms to embrace generative AI
After more than a year of pilots, proofs of value and early experimentation, firms are increasingly embedding AI into day-to-day workflows.
Client account interest is not spare change
The proposed Interest on Lawyers’ Client Accounts scheme is being framed as a sensible, international, “tried and tested” way for the profession to help fund a justice system under strain.
