Original article by Jonathan Shapiro, Sarah Thompson
The Australian Financial Review – Page: 15 & 24 : 30-Jun-17
The board of embattled law firm Slater & Gordon will resign in the wake of a debt-for-equity deal with a group of international institutional investors. US hedge fund Anchorage Capital will emerge as the major shareholder in the listed law firm, while investment banks and distressed debt funds will also convert their debt into equity. Slater & Gordon’s veteran MD Andrew Grech will stay at the firm as a non-executive director until a successor is appointed. The firm incurred large losses following its expansion into the UK market.
SLATER AND GORDON LIMITED – ASX SGH, ANCHORAGE CAPITAL PARTNERS PTY LTD, YORK CAPITAL MANAGEMENT LP, TACONIC CAPITAL ADVISORS LP, DAVIDSON KEMPNER CAPITAL MANAGEMENT LP, RIVER BIRCH CAPITAL, METRIC CREDIT PARTNERS, BANK OF AMERICA CORPORATION, MERRILL LYNCH AND COMPANY INCORPORATED, DEUTSCHE BANK AG, QUINDELL PLC, MIRVAC GROUP – ASX MGR, MAURICE BLACKBURN PTY LTD