Market monitor

Metamorph Law, the alternative business structure looking to consolidate small law firms, has made a south-west conveyancing law firm its fourth and biggest acquisition of the year so far. It has taken over BPL Solicitors, a firm with revenues in excess of £5m and staff of around 100, based in offices in Dorchester, Bristol and Bournemouth.

Beaumont ABS – the alternative business structure owned by US giant LegalZoom – has said it is heading towards a “sizeable” profit next year after its first accounts showed a £2.1m loss. This was due to a significant and planned-for investment after it bought Wakefield law firm Beaumont Legal in early 2016 for £6.4m.

Shine Lawyers, the personal injury law firm that followed Slater & Gordon into listing on the Australian Stock Exchange, now finds itself on the receiving end of a shareholder class action, just like Slater & Gordon. The A$250m (£149m) action alleges that Shine misled investors in a series of representations it made to the market.

Riverview Law has become the first law firm to offer its trainee solicitors a six-month seat in technology services, having obtained approval from the Solicitors Regulation Authority. We also have news from ABSs Co-operative Legal Services, Express Solicitors, Keoghs, gunnercooke, Gateley and Astute Dynamic – with diversification a notable theme.

A team of 11 partners and 22 other commercial lawyers has left troubled Slater & Gordon for BLM as it looks to expand further beyond its core insurance law specialism. Meanwhile, a group of internal shareholders at AIM-listed law firm Gateley have sold £10m worth of shares.

David Bott, whose law firm has led the way in handling huge numbers of low-value flight delay compensation claims, said last week the government’s planned tariff scheme for personal injury cases would force him out of the market even if he adopted the same approach for them.

Leading insurance company LV= has ditched its legal services offering, less than two years after starting it, Legal Futures can reveal. In January 2016, it launched a joint venture with Bristol-based law firm Lyons Davidson to offer fixed-fee advice for a range of consumer legal services.

Pioneering alternative business structure (ABS) Genus Law – which started life with the somewhat bolder name Brilliant Law – closed last month, with its book of business sold to fellow ABS Alpaca Law, it has emerged. Meanwhile, another groundbreaking ABS, Co-operative Legal Services, announced a rise in turnover but dip in profits for the first half of 2017.

Leading personal injury lawyers told yesterday’s PI Futures conference that there is “all to play for” on the Civil Liability Bill as a “nervous” governments seeks to avoid a damaging parliamentary defeat. Delegates were also urged to write to the Law Society to demand it take more action, and to MPs about the impact on access to justice.

NAHL plc, the marketing and services business that owns National Accident Helpline, has announced a small dip in revenue and profits for the first half of 2017. The company warned investors last year that work to reshape its personal injury offering, in light of the upcoming government reforms, would lead to a temporary dampening of cash generation and profits.