Legal Services Act

A staid profession is a dead profession, a solicitor turned high street entrepreneur has warned, telling lawyers that they need to change the way they do things. However, Sahar Hashemi – the one-time City solicitor who went on to found Coffee Republic – said law firms should not panic.

Employee ownership of law firms is an opportunity to get the best young lawyers into early equity and minimise risk, according to Neil Kinsella, Slater & Gordon UK’s chief executive, as he outlined how the sector could respond to the changing legal landscape.

Well-known personal injury law firm Gorman Hamilton has launched a twin-track approach to life after LASPO, part of which has been to form an alternative business structure (ABS) in which a credit hire company has a minority stake.

Legal problems are costing small businesses in England and Wales £100bn a year, with fears over the cost of legal advice meaning they are far more likely to go it alone than seek help, authoritative new research from the Legal Services Board has found.

Big legal businesses such as Co-operative Legal Services and Quindell “will all fail”, according to leading alternative business structure (ABS) critic Kerry Underwood. However, he welcomed the possibilities opened up by external capital for existing legal practices.

Plans to grow a criminal legal aid firm that has just received its alternative business structure licence – potentially through external investment – are on hold pending the outcome of the government’s current reform plans, according to its head of legal.

The use of fixed fees in family, probate and housing cases has risen significantly, leading to far higher rates of client satisfaction than when they pay by the hour, according to a major consumer survey.

The newest listed law firm in Australia – and the third biggest personal injury practice in the country – is eyeing up an acquisition in the UK, it has emerged. The fast-growing Shine Lawyers listed last week and saw its share price instantly increase by a half.

The Legal Services Consumer Panel has strongly criticised the government’s plan to deny defendants the right to choose their own solicitor under price competitive tendering, with new data showing that legally aided clients are more likely to shop around than any other.

Alternative business structure Quindell Portfolio plc has seen its share price recover ground after it fell by more than a half in less than a week. Meanwhile, ABS and leading personal injury firm Fentons has announced record turnover for the last financial year.