Alternative business structures
ABSs offer opportunity to thriving in-house lawyers, says Law Society
The number of in-house lawyers has not been affected by the economic crisis and alternative business structures (ABSs) offer general counsel an opportunity to expand their services, according to the Law Society.
DAS buys law firm as it bids to build major consumer brand
Legal expenses insurer DAS has finally secured the law firm acquisition that will kickstart its bid to become one of the UK’s top legal services providers. DAS, which is owned by German insurance giant Munich Re, has bought Bristol law firm CW Law.
Number of private practice solicitors falls for first time as Law Society warns of ABS threat
The number of qualified solicitors in private practice fell last year for the first time since records began. A new legal service market assessment by the Law Society also warned that that a small number of successful ABSs could radically reshape the market for high street legal services.
Family office for wealthy Russians joins ABS ranks
A company that specialises in helping wealthy business people from Russia and Eastern Europe relocate to London has acquired an alternative business structure licence in order to add legal services to its business services portfolio.
SRA hits out at LSB approach to regulation and ABS licensing
The Legal Services Board has overstepped its bounds, distorted the Legal Services Act’s regulatory balance, aligned itself too closely with the government, and intervened in matters beyond its competence, the Solicitors Regulation Authority has charged.
Top media firm and regional practice seeking external cash help take ABS total to over 100
A leading media law firm and a regional practice seeking minority external ownership to drive an acquisition strategy are among the latest alternative business structure approvals as the number of licences issued by the Solicitors Regulation Authority tops 100.
BT Law goes live after global telecoms giant wins ABS licence
Global communications company BT has been awarded an alternative business structure license from the Solicitors Regulation Authority to launch BT Law Ltd. It will provide legal services to corporate customers, initially in the motor claims market, but with an eye to expanding into other areas.
AIM-listed legal expenses insurer buys Manchester law firm
Legal expenses insurer and alternative business structure Abbey Protection plc has acquired Manchester commercial law firm Lewis Hymanson Small, completing a three-pronged strategy to expand its services to the SME market.
Slater & Gordon eyes further UK expansion after half-year results show income on target
Slater & Gordon is set to grow its UK business after it announced its first half-year results since the takeover of Russell Jones & Walker. The listed Australian firm – now an ABS in England and Wales – posted a 46.5% increase in its revenue for the last six months of 2012.
LSB chief questions need for training contract and pupillage, and pushes for faster ABS process
A training regime whose only specification is what a newly-qualified lawyer should be able to offer on day one is the kind of deregulation the Legal Education and Training Review should be considering, according to the chief executive of the Legal Services Board.
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