Private equity house invests in two law firms in quick succession
A private equity house has acquired stakes in two law firms in quick succession – one specialising in conveyancing and the other in private prosecutions.
ATE insurer settles action over failed consumer claims for £48.5m
Legal expenses insurer AmTrust has paid £48.5m to settle a claim brought by the disbursement funder owed money following the collapse of Pure Legal and High Street Solicitors.
Irwin Mitchell sells off £10m debt recovery business
Irwin Mitchell is selling its debt recovery business as it focuses on core legal services, kicking off the latest round of law firm deals.
Solicitor fails in challenge to suspension over litigation misconduct
The High Court has rejected an appeal by a solicitor suspended for a year for engaging in “persistent, abusive litigation conduct”.
Entry of PE “puts focus on capital growth, not annual cash distribution”
Private equity allows law firms “to build for capital growth rather than cash distribution” and represents a “fundamental shift in how firms can compete”, the Law Firm Growth Summit heard yesterday.
Rapson sets out priorities for turning round SRA performance
Changes in how solicitors are supervised, taking more time to listen to the profession and reviewing the threshold for action are among the SRA’s priorities for this year.
Introducing AI “should be next phase of tribunal reform”
Introducing AI into tribunals should be “the next phase” of the HM Courts and Tribunal Service reform programme, the Administrative Justice Council has said.
Rebuke for senior partner who used client account for personal matter
The senior partner of a London law firm has been rebuked for using its client account as a banking facility to deal with a personal matter.
MRO fees: No breakdown needed but judge sets 25% mark-up cap
There is “no realistic scope” to break down the elements of a medical reporting organisation’s fee, the Senior Costs Judge has ruled – but its recoverable mark-up should not exceed 25%.
SRA warns against making law firms take “remedial action” on EDI
A proposed rule requiring law firms to take “remedial action” to address disparities in equality, diversity and inclusion goes too far, the Solicitors Regulation Authority has warned.
