The latest firm to be granted an ABS licence said it now plans to develop its clinical negligence and personal injury practice.
Liverpool firm EAD, which gained SRA approval for the conversion in late December, already has a large focus on clinical negligence work.
The firm said that changing to an ABS has enabled financial director Karen Hosker to become a partner and take on the new role of head of finance and administration. Hosker will lead the firm’s plans to grow in those areas.
The firm, which acts for members of trade unions, said obtaining an ABS licence makes the firm “well placed” to take advantage of significant changes in the personal injury market that are due to take effect in April.
The Jackson reforms are expected to lead to wholesale changes in the way litigation is managed, replacing conditional fee arrangements with damages-based agreements (3 December 2012).
Steve Cornforth, head of legal practice at EAD, said: ““While there are many changes on the horizon, there are also many opportunities. The challenges ahead mean we’ll need to build partnerships with non-lawyers, but the ABS provides us with the foundation to begin the process.”
Last week, Leeds-based Brilliant Law’s ABS licence came into effect as it launched its ‘pay-as-you-go’ fixed-price menu for ad hoc services (3 January 2013).
One of the biggest firms in the clinical negligence and personal injury market, Irwin Mitchell, has been granted five ABS licences for its group structure (12 December 2012).