Parabis Group has received its alternative business structure (ABS) licence from the Solicitors Regulation Authority (SRA), making it the first private-equity backed organisation to take up the business model. The licence approval has rubberstamped a deal agreed late last year which saw private equity house Duke Street take a majority stake in Parabis, the parent company of insurance litigation firms Plexus Law and Cogent Law.
August 22, 2012 at 05:44 AM
1 minute read
The original version of this story was published on Legalweek
Parabis Group has received its alternative business structure (ABS) licence from the Solicitors Regulation Authority (SRA), making it the first private-equity backed organisation to take up the business model.
The licence approval has rubberstamped a deal agreed late last year which saw private equity house Duke Street take a majority stake of just over 50% in Parabis, the parent company of insurance litigation firms Plexus Law and Cogent Law.
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