Last week, it was revealed that over half of Roberts Jackson’s former employees have been made redundant.[i]
In October 2018, 100 staff members were TUPE transferred to AWH Legal from the claimant disease firm, but now just 42 remain. AWH Legal’s Managing Director, Abdul Hussain, explained:
‘The underlying business is good but the amount of work wasn’t enough for 100 people’.
We discussed the impact of a declining NIHL market on Roberts Jackson in edition 249 of BC Disease News (here).
Having undertaken 18 months of research, Mr Hussain claims to have identified 150 law firms that are ‘in trouble and will have disappeared in the next 18 months’, as a direct consequence of Governmental reforms, such as the Civil Liability Act.
With the financial backing of an American private equity house, AWH Legal is looking to acquire more struggling businesses, offering upfront payment and a percentage of the recovery from cases acquired, as opposed to buying work-in-progress (WIP) as part of a one-off, back-end transaction.
[i] Neil Rose, ‘Exclusive: Acquisition vehicle eyes PI firm deal rush’ (18 January 2019 Legal Futures) <https://www.legalfutures.co.uk/latest-news/exclusive-acquisition-vehicle-eyes-pi-firm-acquisition-rush> accessed 23 January 2019.