Slater and Gordon Shareholder $36.5m Claimant Scheme passed

Company News

by Jessica Amir

Embattled law firm, Slater and Gordon (ASX:SGH) has passed the Shareholder Claimant Scheme (SCS) in a poll.

It was previously adjourned but after it reconvened today, Slater and Gordon found the majority by value and number of shareholder claimants voted to approve the Scheme.

The proposed settlement is about $36.5 million, subject to court approval and a number of other conditions.  

All this follows the firm’s creditors’ schemes being approved and passed last Tuesday, and that saw its share price gain over 36 per cent, just in one day.

Shares in Slater and Gordon (ASX:SGH) are trading about 5.3 per cent higher to $0.04.

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.