Slater and Gordon Limited (ASX:SGH) has announced it’s in confidential discussions with its lenders about the stabilisation of its capital structure.
The multinational law firm has been informed by the New Senior Lenders that they fully intend on implementing a solvent restructure of the company.
The New Senior Lenders will also enter into binding agreements to reset the firm’s debt structure, so it can provide a stable platform for its future operations in Australia and the UK.
The company and the New Senior Lenders believe a restructure by a debt for equity Lender Scheme of Arrangement will be in the best interests of all stakeholders.
Slater and Gordon Limited (ASX:SGH) will provide a further update in the coming weeks.
Shares in Slater and Gordon Limited (ASX:SGH) are currently about 29% higher at $0.12