Quindell gains ABS licence and says it can deliver profit under new costs regime

Quindell Portfolio has finally received its alternative business structure (ABS) licence and also predicted that it will be able to operate profitably within the new fixed fees and small claims structure put forward by the government.

In a trading update issued this morning, Quindell said it has now received approval from the Solicitors Regulation Authority in relation to Quindell Legal Services Limited’s ABS application, which takes in its acquisitions of three law firms: Silverbeck Rymer, Pinto Potts and The Compensation Lawyers.

The approval, which has no application specific conditions, is effective from 21 December 2012.

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