Alternative business structures
Niche corporate firm and conveyancing arm of property MDP become latest ABSs
A West Midlands corporate transactions law firm that has advised on deals worth more than £20bn has become an alternative business structure, as has a practice working within a leading Bristol property services group.
Lloyds to take minority stake in defendant firm after SRA approves ABS application
Leading defendant law firm Keoghs has secured “significant investment” from mid-market private equity investor LDC, which is part of Lloyds Banking Group. It is taking a 22.5% minority stake.
The commercial law firm that came in from the cold – newest ABS embraces regulation
A business offering corporate and commercial legal services has entered into regulation by becoming the newest alternative business structure (ABS) licensed by the Solicitors Regulation Authority.
Exclusive: top consumer law firm targets tie-up with big brands after receiving ABS licence
One of the country’s largest consumer law firms has become the latest alternative business structure (ABS) as it targets working with “well-known brands” to offer a range of legal services.
Litigation funder eyes ABS as way to finance law firms’ contingency fee work
A litigation funder with £40m a year to invest is considering using alternative business structures to make funds available to law firms, according to its chief executive. They have to be prepared to work under damages-based agreements (contingency fees), however.
ABS licence for top building society and estate agency
A volume conveyancing business owned by Britain’s fourth largest building society is targeting a move into other areas of legal services after receiving its alternative business structure (ABS) licence.
Top firms “waking up” to competition from ABSs – with one in five planning conversion themselves
Alternative business structures (ABSs) are increasingly on the radar of the top 100 law firms, with a growing number recognising them as threats to their profitability – and one in five planning ABS conversion themselves, according to new research.
Commercial claims company eyes ABS status
A commercial claims management company is considering converting to an alternative business structure (ABS) to further its work in aiding investors recoup losses from complex investments which they have been mis-sold.
BSB sets course for barrister partnerships in 2013 and ABSs in 2014
Barristers are likely to be allowed to form partnerships next year and before they can create alternative business structures, the Bar Standards Board said last week. Meanwhile, it dropped a proposal to force barristers to withdraw from cases where a client refuses to reveal previous convictions to the court.
Streamlined and quicker ABS licensing process on the way
The Solicitors Regulation Authority is set to “streamline” the alternative business structure (ABS) application process, its chief executive has revealed after its approach and the time it takes were criticised at a high-profile event yesterday.
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