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Cardiff solicitors’ firm NewLaw Legal Limited has become the latest organisation to be licensed as an alternative business structure.
Personal injury specialist NewLaw Legal is the first legal disciplinary practice to be granted an ABS licence by the Solicitors Regulation Authority (SRA). The news comes after Co-operative Legal Services, John Welch and Stammers, and Lawbridge Solicitors were all granted licences in March (28 March 2012).
NewLaw was established in 2004 and has 250 staff across offices in Cardiff and Glasgow.
In a statement, NewLaw’s chief executive Helen Molyneux said: “This is an extremely proud moment for our business. NewLaw was founded in anticipation of the legal services market being opened up to non-lawyer ownership.
“Since then we have shaped the business to take on a corporate structure in anticipation of this moment. Our ABS status will give added momentum to the joint venture business strategies that we have been evolving for some time.”
The SRA began accepting ABS applications on 3 January and has since received 74 stage two forms from organisations, after initial applications from more than 200 applicants.