Market monitor

The law firm which bought private equity-owned Roberts Jackson out of administration is planning several more deals to help others exit the personal injury market, Legal Futures can reveal.

City law firm FieldFisher has set up a separate practice with lower overheads to attract hedge fund clients who could not afford its fees. It is the latest “alternative solution” created by the firm.

One of America’s most prestigious law firms has agreed to pay $4.6m and register as a ‘foreign agent’ after admitting to misleading the US government over work done for Ukraine.

A new-model law firm has joined the growing band of practices that offer lawyers and staff a share ownership scheme, and has seen investments ranging from £2,500 to £120,000.

A tax consultancy has set up an alternative business structure to create a “one-stop shop” for independent contractors seeking advice, saying ABSs had made the law more entrepreneurial.

Well-known personal injury law firm Camps is to run its practice down over the next two to three years, with 50 redundancies on the cards immediately, Legal Futures can reveal.

Knights has reported strong growth in its maiden half-year results as a listed law firm along with its third acquisition in eight months – a £1.6m deal to buy a specialist employment practice.

NAHL plc, the company behind National Accident Helpline and co-owner of two alternative business structures, failed to meet its financial targets last year, it told investors today in a profit warning.

Nine in ten legal tech start-ups will fail and private equity will target alternative legal services providers, a global legal outsourcer has predicted.

A law firm that helps solicitors buying, selling or merging their practices has teamed up with accountants and consultants in the sector to launch a new association for advisers.

Global law company Elevate is looking for more acquisitions this year after buying pioneering UK commercial law firm Halebury, which uses freelance lawyers to support in-house teams.

Almost half of young lawyers see resistance to innovation by their firms as the biggest threat to the profession, according to a survey. Meanwhile, salaries for trainee solicitors are on the rise.

Only five out of 22 lawyers and staff who lost their jobs when Hull firm Ingrams collapsed were protected by the TUPE regulations when the firm was effectively taken over by an innovative ABS.

Pioneering law firm Gateley is on track to become the first listed legal business to hit the £100m turnover mark, with double-digit growth across all financial indicators in the first half of its financial year

Several listed legal businesses bucked the downward trend of the stock market in 2018, with ‘challenger’ firm Keystone Law the standout performer, a Legal Futures analysis has shown.