Alternative business structures

Barnet and Harrow councils in London have renewed their shared legal service, HB Public Law, a year early, preserving the alternative business structure that has the biggest local authority legal team in the country. However, Fairpoint Group plc has seen its share price crash since issuing a profits warning about its legal arm.

A shared legal services between four local authorities in Norfolk is set to create an alternative business structure (ABS). Norfolk Public Law – which trades as nplaw – is choosing to add the ABS alongside its existing practice, rather than transfer everything into the new company.

AIM-listed law firm Gateley is keen to explore acquisitions of further non-legal businesses, it said yesterday as it announced that the revenue in the six months to the end of October was up by almost 19% on the same period last year. It has also poured millions of shares into an incentive scheme for partners.

A man who tried to get a vulnerable client to loan him money – shortly after the will-writing firm he worked for became an alternative business structure – has been banned from working in the profession after it reported him to its new regulator.

A multi-disciplinary alternative business structure is offering property clients the chance to be advised by a solicitor, accountant and architect at the same time. In addition to the deal with H&C Architects, Z Group is also continuing to expand its core areas with acquisitions.

Alternative business structures are far more likely to invest in their businesses than non-ABSs, research in the licensed conveyancer community has suggested. The survey provided an unprecedented snapshot of how this part of the legal market operates, including what it charges.

A notarial firm based in Norwich has become the first to be regulated as an alternative business structure by the Solicitors Regulation Authority. The move was triggered by the decision to appoint its first non-notary employees earlier this year.

South-west law firm Ashfords has become an alternative business structure to integrate its clutch of spin-off businesses more closely with the legal practice. The firm will also shortly be announcing its second external investment after legal recruitment app Route1 – this time in a clothing retailer.

An alternative business structure specialising in alternative investments has acquired two non-legal businesses as part of its strategy to become “the pre-eminent advisory and infrastructure business in alternative assets”. Our round-up includes news from Gateley, Triton Global, Callan Legal, Fletchers, Dezrezlegal and Knights.

Being an alternative business structure (ABS) “definitely gives us an advantage as compared to a typical law firm”, according to the managing director of the unique practice founded by Cherie Blair QC. She said the firm was born from “a recognition of the gap between what law firms can provide and what clients want”.

The top-30 accountancy firm which in 2013 was the first accountancy practice to acquire an alternative business structure (ABS) licence from the Solicitors Regulation Authority has taken on a second licence from the Institute of Chartered Accountants in England and Wales.

Making the consumer journey “more flexible, faster and less expensive”, along with giving clients more control, will be the key to the success of Slater & Gordon, its UK chief executive said this week. Ken Fowlie said he was also “determined to make a success” of the firm’s strategy of becoming a dominant consumer law brand, while admitting to “bumps on the road”.

The managing director of a leading personal injury firm has revealed that he and his private equity backers have a masterplan to combine three personal injury practices into a firm large enough to be listed on the London stock market.

A “brand-driven” solicitors’ practice specialising in employment law has become an alternative business structure in order to bring its ‘virtual’ barristers’ chambers under the ABS umbrella. Once the concept is proven, it aims to roll it out across other areas of practice.

An international finance and technology law practice involved in the online gaming and electronic payments industries, has become an alternative business structure to help its plans to grow as a group and set up offices across the European Union.