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.