Slater And Gordon Dodges Insolvency After Shareholder Vote

Law360, New York (December 7, 2017, 3:19 PM EST) -- Slater and Gordon Ltd. shareholders on Wednesday voted in favor of a recapitalization plan to give control of the publicly traded Australian law firm to hedge funds, at its annual general meeting in Melbourne.

Under the approved plan, hedge funds led by New York-based Anchorage Capital Group LLC are seizing a 95 percent stake in the firm. Shareholders are reducing their stake to 5 percent of the share registry.

Speaking to shareholders at the meeting, Slater and Gordon Chairman John Skippen said the board understood the deal...
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