Market monitor

National firm Cartwright King has opened what it describes as the first “in-house chambers”, made up of 20 advocates, including five barristers. All the solicitors in the chambers are higher court advocates.

Competition from alternative business structures and non-solicitor organisations is of increasing concern to law firms, Law Society research has revealed. At the same time, compliance with Solicitors Regulation Authority rules remains the main problem identified by solicitors.

A British PhD student, a Polish accountant and a Brazilian lawyer have come together to form a unique alternative business structure, the first to specialise in Islamic finance.

One of Europe’s largest debt purchasers has acquired a Welsh law firm that specialises in outsourced advocacy following the grant of an alternative business structure (ABS) licence by the Solicitors Regulation Authority.

A further series of mergers around the country have been announced as consolidation in the legal market continues to take hold. There is usually a rush of mergers each year timed to coincide with the 30 September deadline to secure professional indemnity insurance.

Top-20 firm Kingston Smith has become the first accountancy firm to be licensed as an alternative business structure by the Institute of Chartered Accountants in England and Wales to carry out probate work.

Hampshire law firm Moore Blatch has teamed up with national spinal injury charity Aspire to launch the first alternative business structure of its kind. Aspire Law will open for business on 3 November, offering a specialist service to people with spinal cord injuries.

KPMG has become the second member of the ‘Big Four’ accountants to be awarded an alternative business structure licence. However, unlike PwC, KPMG said it has no intention of developing a standalone legal practice.

Mergers have been announced across the country in recent days, with firms of all sizes and practice areas choosing to join forces. There is usually a rush of mergers each year timed to coincide with the 30 September deadline to secure professional indemnity insurance.

Stuart Gillespie, founder of recruitment company G2 Legal, has set up a commercial law alternative business structure with his in-house solicitor, Lucy Tarrant. They are partners in Cognitive Law LLP.

Legal entrepreneur Brad Askew has relaunched a property website for landlords, which attracts up to 600,000 unique visits a year. The Tenancy Agreement Service is aimed particularly at the 78% of Britain’s 3.5m private landlords who only let one property.

Quindell plc told investors today that it cannot explain the latest slide in its volatile share price. The alternative business structure closed at 136.5p on Friday, down nearly 10% on the day and 35% since announcing its first-half results on 21 August.

Cherie Blair QC is to throw herself into her work with her alternative business structure (ABS) Omnia Strategy after leaving Matrix Chambers, which she co-founded 14 years ago.

Two north-west alternative business structures (ABSs) have announced record results, while Slater & Gordon’s next potential acquisition, and first in Wales, has emerged.

Lawyers2you, the shopping centre-based marketing brand previously owned by failed Birmingham firm Blakemores, has been resurrected and relaunched with the first two stands open for business this week, Legal Futures can reveal.