First SRA-licensed ABSs announced
The Solicitors Regulation Authority (SRA) has licensed its first three alternative business structures (ABSs). They are Co-operative Legal Services, Oxfordshire law firm John Welch & Stammers, and Kent-based Lawbridge Solicitors.
Co-operative, which intends to move into family law, currently employs 400 staff and is recruiting a further 150. John Welch is a general practice with seven fee earners, including two partners. Lawbridge comprises a husband and wife team of solicitor and practice manager—the wife, currently practice manager, will now become a director with a significant shareholding.
The SRA has received more than 180 expressions of interest in becoming an ABS.
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