Entertainment & Sports Law
UK Wealth Mgmt. Co. Wants to Buy British Law Firm
Posted May 27, 2008, 10:10 am CST
By Martha Neil
Right now, the Formation Group looks to two outside law firms, Halliwells and DLA Piper, to handle the legal needs of its well-heeled clients.
But, thanks to new legislation, the U.K. wealth management company for entertainers and professional sports figures is now looking to buy a law firm to service clients on in-house basis, reports Crain's Manchester Business.
Under the Legal Services Act of 2007, British businesses that aren't operated by attorneys are permitted to own law practices.
Additional coverage:
Manchester Evening News: "Formation Group's war chest"