Stuttering growth “pushing firms towards mergers”
A lack of growth is one of the factors behind the increasing trend towards mergers and acquisitions amongst small and medium-sized law firms, new research has suggested. Firms are also continuing to ignore the importance of lock-up to their cash flow, it said.
Law Society lays into government’s partnership tax reforms
The government’s proposed tax reforms for limited liability partnerships (LLPs) are “haphazard”, “incoherent”, backward looking, and would introduce a “bizarre distinction” between business entities, according to the Law Society.
From ‘America’s most familiar law firm brand’ to the UK’s? Jacoby & Meyers unveils ABS plan
Jacoby & Meyers – which claims to be the largest full-service consumer law firm in America – is to create a joint venture alternative business structure as a vehicle to acquire UK law firms and become a “significant” player over here.
High Court asks SRA to consider firm’s fitness to practise after contempt ruling
The incoming Lord Chief Justice has asked the Solicitors Regulation Authority to consider a law firm’s continuing fitness to practise having found its senior partner in contempt of court.
Conveyancers face new referral fee disclosure rules but no ban
The Legal Services Board has backed improvements to the transparency of referral fees paid by licensed conveyancers following a review that found absolutely no justification for a ban.
Insurance industry “shaping the law firm M&A agenda”, say experts
Professional indemnity insurers are starting to shape the UK legal sector as they exert their influence during law firm mergers and acquisitions, experts have warned. Their attitude towards a firm’s target is becoming a significant influence on who buys whom – and who doesn’t.
Pioneering ABS combines legal and accounting services
The first alternative business structure to market itself as a firm offering both legal and accountancy services has been licensed by the Solicitors Regulation Authority. Direct Law & Finance Ltd is a firm of solicitors and accountants based in Brentford, west London.
Top City firms aim to develop human rights principles to guide work
Some of the country’s biggest law firms are moving closer to establishing stand-alone human rights policies, it has emerged. Clifford Chance, Freshfields Bruckhaus Deringer, Linklaters and Herbert Smith Freehills are among those working towards creating policies.
Direct Line hits £125m from solicitors since 2009 after scooping final £6m in referral fees
Direct Line Group – which last month announced plans to launch its own legal business – made a final £6.1m in referral fees from solicitors this year before the ban was introduced on 1 April, its half-year results have shown.
Internet marketers launch map-based direct access service
An internet marketing specialist has launched a new map directory for public access barristers. Nick Draycott, director of GoDirect2Barristers.com, has adapted online mapping technology to produce a site which he argues offers improved direct access to the Bar.
