Alternative business structures
Will-writer eyes conveyancing opportunity after receiving ABS licence, while IFA plans MDP
A will-writer is planning to use his new alternative business structure (ABS) licence to expand into the conveyancing market, Legal Futures can report. Further, an IFA is planning a specialist multi-disciplinary ABS with a law firm focusing on the over-55s.
Conveyancers and PI firm named latest ABSs
The residential conveyancing department of a Leicester law practice has left the firm to become an alternative business structure, while a sole practitioner targeting lender panels and a personal injury practice in Cheshire have also gained licences.
Making alternative business structures work
Lawrence Cook, director of marketing and business development at Thesis Asset Management – which was once owned by and is still linked to south-east law firm Thomas Eggar – outlines their experience of joint ventures with solicitors.
Public sector ABS eyes external investment to expand
A specialist public sector law firm is eyeing up external investment so as to fund expansion, as well as strategic partnerships with others to secure market share, after becoming the newest alternative business structure.
Liverpool firm becomes first family law ABS
A Liverpool-based practice has become the first specialist family law firm to become an alternative business structure. Tracey Miller Family Law will use its new status to allow business development manager Anthony Hool to take a minority stake in the firm.
Leading conveyancing firms gain ABS status
Two of the country’s best-known conveyancing practices have become alternative business structures, while an insolvency and litigation practice has also achieved ABS status.
Income up sharply at pioneering ABSs
Two of the UK’s first alternative business structures – Slater & Gordon and Co-operative Legal Services – have reported strong increases in income, although profits at the Co-op have been hit by its expansion plans.
SRA places restrictions on Parabis’s offshore operations
The Solicitors Regulation Authority has placed controls around the Parabis Group’s offshore operation in South Africa, it has emerged. Parabis received its alternative business structure licence yesterday.
LSB warns regulators over referral fee ban as government unveils CMC crackdown
The Legal Services Board has warned regulators not to go further than the legislative requirements for the impending ban on referral fees in personal injury, calling for “a liberal approach” that does not prevent alternative business structures effectively circumventing it.
First private equity backed ABS receives licence
Duke Street today became the first private equity firm to own part of a law firm after the Parabis Group received its alternative business structure licence, the twentieth so far issued by the Solicitors Regulation Authority.
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