MILLIONAIRE Bruce Corrie, who last autumn sold the road traffic accident department of his massively successful York firm, Corries Solicitors Ltd, for an eight-figure sum, has bought back his name from the buyers, the Minster Group.
Mr Corrie, 42, was former chairman and sole owner of Corries Solicitors Ltd, which generated £17.5 million worth of solicitors' fees in the year to last April from its prestige modern offices in Hospital Fields Road, off Fulford Road.
As part of the deal, he hived off 50 of the 250 staff to launch a new business at York's Rowntree Wharf in Navigation Way called BAC Solicitors (his initials), which concentrates on asbestos litigation and employment law.
Now he is said to have paid a six-figure sum for the right to change the name of his new venture back to Corries Solicitors Ltd, at a time when he has taken on an extra 10,000 sq ft at Rowntree Wharf in preparation for expansion into a national practice.
He said: "I decided to buy back the name Corries Solicitors because it was the name of the original law firm and because it made sound personal and commercial sense.
"It did not necessarily seem a good idea to have a business with which I am not associated operating with my name on it."
Mr Corrie, a former York College of Law student, started out as a one-man operation above a gas showroom, building up his venture into a massive York-based legal empire, before selling it.
Meanwhile, his old business will now trade under the name of Minster Law, to reflect the new ownership - and there are big plans for expansion.
Adrian Christmas, Minster Law chairman, said the outlook was extremely positive. "There is a significant requirement within the industry for specialist advice on injuries.
"Our key priority for Minster Law is the development of long-term strategic partnerships with existing clients and suppliers to grow the business by 30 per cent over the next year."
Minster Law is in the forefront of the field of personal injury litigation, recovering more than £100 million for injured clients.
It is supported by a national network of experts - doctors, engineers, barristers and investigators who visit the scene of accidents to provide legal evidence to support clients' claims for compensation.
Most of its work comes through intermediaries such as insurance brokers, uninsured loss recovery companies and credit hire firms.
Updated: 11:12 Monday, January 16, 2006
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article