Insolvency firm McGrathNicol has released its report on the financial state of troubled law firm Slater Gordon concluding that a restructure may be required subject to additional forward projections.
The report comes as original lenders to the company have offloaded their loans to distressed debt funds and investment banks, amid a growing perception that a “debt-for-equity” swap will be needed to recapitalise the operation
Titled “Group Forecast Review and Recapitalisation Discussion Paper”, the report was drafted by the insolvency firm that was appointed by Slater & Gordon’s two major lenders National Australia Bank and Westpac in January.
The report says that the fundamental business is in fair shape but the capital structure needs t…
Read the full article at: http://www.afr.com/business/banking-and-finance/slater–gordon-capital-structure-needs-to-be-reset-insolvency-report-20161207-gt6er2
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