Market monitor

London-based Mishcon de Reya, a rural firm in the Lake District, and a firm that currently carries out no reserved legal work at all are among the latest businesses to obtain alternative business structure licences.

NewLaw Solicitors is eyeing up another three alternative business structure joint ventures, its publicly listed owner revealed yesterday. NewLaw – itself only the fourth ABS licensed by the Solicitors Regulation Authority – already has four joint venture ABSs

An international lawyer is bringing new meaning to the idea of a multi-disciplinary practice after launching a business in London that combines legal advice for DIY divorce clients with anti-ageing serums and sex therapy.

Alternative business structure Quindell plc indicated today that progress is being made on Slater & Gordon’s acquisition of its legal arm. The AIM-listed company’s shares jumped by 40% in early trading as a result.

Liverpool-based 7 Harrington Street Chambers has launched what is believed to be the first alternative business structure attached to a barristers’ chambers. It opened for business last week, with three barristers and 7HS practice director as its directors.

Morgan Stanley has dumped Quindell stock just four days after becoming the alternative business structure’s second largest shareholder, it has emerged. Quindell’s shares jumped on Monday after announcing that it had taken a 5.03% stake.

National Accident Helpline has today unveiled its move into the conveyancing market by spending £4.3m to buy a lead generation business specialising in the sector that owns the website of failed alternative business structure In-Deed.

The growth capital fund which became the first external investor in a high street law firm last week has said it will consider investing in other legal practices.

The TV advertising battle between legal brands stepped up this week with Slater & Gordon launching a new campaign with the message ‘Your case is our cause’. Meanwhile, the share price of Quindell plc, part of which S&G is in talks to buy, continues to fluctuate.

McMillan Williams, which has 20 offices in London and the south of England, has become the first high street law firm to take external investment after securing a £5m private equity deal.

Over-50s company Saga has launched the first television advertising campaign for its legal services division, satirising the notion of lawyers being long-winded. There adverts envisage what life would be like if everyone spoke like a lawyer

Business consultancy Assure Law has bought a specialist rehabilitation service as it expands the range of services it offers to law firms, following its acquisition of HighStreetLawyer.com and Lawyers2you.

Alternative business structure gunnercooke has taken its pioneering law firm model of only employing senior lawyers and used it to set up a consultancy business.

Slater & Gordon has today announced another two acquisitions that it said will make it the largest consumer law firm in Wales, as well as boosting its presence in the north-west and south-west of England, while talks over the acquisition of ‘operating assets’ of Quindell are continuing.

The debate over national versus local legal brands is set to begin again after Norfolk firm Clapham & Collinge announced it was “reclaiming its independence” by leaving the QualitySolicitors network after four years.