Minister tells profession to adapt to “the new circumstances” of life in the law
Solicitors and barristers will have to adjust to “the new circumstances” they are facing as a result of legal aid and other reforms “if they are going to survive”, justice minister Lord McNally said yesterday.
AIM-listed conveyancing business set to become first ABS casualty
In-deed Online plc – the first listed company to buy a law firm – is now set to become the first alternative business structure (ABS) casualty after announcing plans to sell the practice back to one of its founders along with the rest of the online conveyancing company’s business.
High Court backs solicitors in mortgage fraud case
The defence protecting honest solicitors duped by mortgage fraudsters that was erected by the Court of Appeal last year has been reinforced by the High Court. A law firm can be relieved of consequential liability for a breach of trust if it acts honestly and reasonably.
Here come the Meerkats as BGL Group acquires Minster Law in biggest law firm sale
Meerkats entered the law today as BGL Group – one of the UK’s leading insurance intermediaries and owner of the comparethemarket.com website – received its alternative business structure licence to acquire Yorkshire personal injury law firm Minster Law.
Legal arm of publicly quoted HR consultancy gains ABS licence
The legal arm of a publicly quoted human resource consultancy boasting global blue-chip clients has been granted an alternative business structure (ABS) licence. 3HR plc offers Asian multinational companies an outsourced employment business support service
External investment in law firms to trigger process of “natural selection”
A “process of natural selection” will thin out those law firms without the backing to compete with those benefiting from external investment, a major new report has found, with half of firms polled eyeing up the possibilities of bringing in cash.
Law Society backs SRA “raid” on compensation fund but calls for alternatives to intervention
The Solicitors Regulation Authority needs to consider alternatives to intervening in failing law firms, the Law Society has said, while accepting the “emergency” need for the regulator to dip into the Compensation Fund to pay for the unexpectedly high cost of interventions this year.
Seldon loses for the last time as forced partnership retirement case ends
The case of the law firm partner required to retire at 65 has finally reached an end after an employment tribunal rejected the age discrimination claim brought by Leslie Seldon against Kent firm Clarkson Wright & Jakes.
Survey: shopping around works for legal consumers, but too few do it
The minority of consumers who shop around for legal services are likely to be more satisfied by the service they receive from their chosen provider, new research has found. The findings on how consumers choose lawyers are likely to give encouragement to high street lawyers.
LSB warns Bar regulator that it has big hurdles to jump to regulate ABSs
The Bar Standards Board will be unable to regulate alternative business structures effectively until it learns more about users of barristers’ services and undergoes “significant cultural change”, according to the Legal Services Board.
