Hedge funds take control of Slater & Gordon
Slater & Gordon CEO Andrew Grech leaves the company’s AGM in Melbourne. Photo by Jesse Marlow. .
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MELBOURNE, AUSTRALIA 14 NOVEMBER 2013: Photo of James MacKenzie who is retiring as Chairman of Mirvac, during the company’s AGM meeting in Melbourne on Thursday 14 November 2013. AFR / LUIS ASCUI
Class action law firm Slater and Gordon is set to be owned by a consortium of international hedge funds after agreeing to a bailout that will see it emerge with a new board and strategy.
The new plan, revealed on Thursday night, will involve hedge funds, led by Anchorage Capital swapping the debt they are owed by Slater and Gordon into a 95 per cent ownership of the company….
Read the full article at: http://www.bordermail.com.au/story/4894220/hedge-funds-take-control-of-slater-gordon/?cs=4067