Legal price comparison websites “begin to sign up” to good practice standards
Five legal price comparison websites have signed up to good practice standards issued by two regulators and the Legal Services Consumer Panel – although they are to remain voluntary, with no external validation.
North-west ABS targets national practice after London launch
A top north-west alternative business structure (ABS) has continued its expansion by moving into London. Fresh from its ABS licence approval in January, Stephensons is seizing on the “flexibility” of its new structure to muscle in on the London conveyancing market.
Quindell: no reason for share price plummet
AIM-listed alternative business structure Quindell Portfolio has been forced to issue a statement that it knows of “no valid reason” for the sudden 45% fall in its share price. It was trading at 13.25p at the end of last week, but since issuing its 2012 results on Tuesday, the price had fallen to 7.34p.
To be an ABS, or not to be: Shakespeares becomes one of largest firms to gain licence
National firm Shakespeares has become one of the largest law firms to date to become an alternative business structure. The ambitious firm, led by chief executive Paul Wilson, has been on the acquisition trail in the last five years, with six mergers.
Number of CLC-regulated ABSs reaches 35
The number of alternative business structures approved by the Council for Licensed Conveyancers has risen to 35 in recent weeks, but several of the new licensees have branded the process as “unnecessary” and delivering “no benefit” to their businesses.
PI diversification continues as Antony Hodari snaps up Tandem Law
North-west firm Antony Hodari has purchased litigation specialist Tandem Law in further evidence of personal injury practices diversifying in the wake of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 coming into force.
Slater & Gordon to stump up £23m for triple acquisition
Slater & Gordon (S&G) is paying around £23m for its triple law firm acquisition, with more deals likely over the next 18 months, it has emerged. It said successful integration of the three will make a “significant contribution to the financial performance of S&G’s UK operations”.
SRA: we expect more large law firms to go under
More large law firms are expected to fail over next few years and the risk of theft of client funds is rising, the Solicitors Regulation Authority has warned. It has also speculated that in future indemnity insurance or even policies purchased by clients may need to cover the cost of intervening in firms.
Slater & Gordon makes its personal injury play with trio of acquisitions
Slater & Gordon has today made its move to become a dominant player in the consumer legal market – and particularly personal injury (PI) – by announcing deals to acquire national firm Simpson Millar, Liverpool-based Goodmans Law and the PI practice of Cambridge’s Taylor Vinters.
ABS Quindell posts 900% increase in turnover and profit
The massive acquisition programme of alternative business structure Quindell Portfolio plc – including three law firms – resulted in a 900% increase in turnover and profit in 2012, the company’s preliminary annual results have shown.
