Parabis was bought in 2012 by Duke Street Capital, becoming the first Alternative Business Structure backed by private equity. Since then, numerous regulatory changes have made insurance work less valuable, particularly in the area of personal injury. Parabis saw its income fall by 25 per cent in the year to March 2014. Keoghs is said to be one of the potential buyers of the Parabis personal injury arm, Plexus Law.
Sustainable
A spokesperson said that the business review has a broad scope, but that it includes 'two clear objectives to identify our core service offering as the market continues to work through change to ensure we have a sustainable business model in the longer term and to determine how best to structure the business to deliver such services'. Source: Legal Business
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