Personal Injury Lawyers were warned by a regulations chief recently that no firm should think that the alternative business structure will not effect them.
Personal injury lawyers were advised by Charles Plant, former partner at Herbert Smith, at the Association of Personal Injury Lawyers conference that their competitors and young lawyers are interested in ABS. It is reported that Plant stated that this period is one where opportunities are great and firms that do not embrace the opportunities are likely to fail.
He pointed out that 74 applications for ABS status were now at being progressed and had reached an advanced stage.
It's reported that personal injury lawyers and firms were warned by Plant to prepare themselves for the future.