Weightmans latest firm to receive ABS approval
Weightmans has become just the third UK top 50 firm to secure an alternative business structure (ABS) licence. The granting of a licence comes just days after Gateley became the second biggest domestic firm to make the move.
December 23, 2013 at 07:03 AM
2 minute read
Weightmans has become just the third UK top 50 firm to secure an alternative business structure (ABS) licence.
The granting of a licence comes just days after Gateley became the second biggest domestic firm to make the move.
Weightmans received its licence last Friday (20 December) from the Solicitors Regulation Authority. The licence allows the firm to recruit non-solicitor partners and will come into effect immediately.
Under the terms of the licence Weightmans, is allowed to practice five reserved legal activities: the exercise of a right of audience, the conduct of litigation, reserved instrument activities, probate activities and the administration of oaths.
John Schorah (pictured), Weightmans' managing partner said: "This approved business model, confirms our total dedication to being as versatile and flexible as we possibly can, to ensure we can grow, change and adapt providing a high quality and coherent service for our clients."
The firm is the third in the UK top 50 to secure a licence, with Irwin Mitchellthe largest UK law firm to receive its ABS licence when it was given the nod in August 2012. The firm was the first to have multiple licences approved, with five different entities within the Irwin Mitchell Group gaining ABS licences.
Gateley's licence will come into effect from 1 January 2014, having taken six months to complete. The licence also permits Gateley to seek external investment though the firm said it had taken the move to allow non-practicing management to own part of the business.
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