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 joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.