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Slater & Gordon paid more than £600m for Quindell's legal arm last year
The Australian law firm that snapped up the bulk of scandal-hit insurance claims company Quindell has been forced into restructuring talks amid concerns over the deteriorating state of its finances. Lenders to Slater & Gordon, Australia’s largest class-action law firm, have hired turnaround experts FTI Consulting in the UK as its problems mount following the company’s shock takeover of Quindell’s legal arm last year. Slater & Gordon, which holds around 12pc of the UK personal injury market, pushed ahead with the deal in March 2015 despite a report by accountants PwC that found Quindell had used “aggressive” and “unacceptable" accounting practices. Months after paying more than £600m for the business, Slater & Gordon was plunged into crisis when the UK’s Financial Conduct Authority, the main City watchdog, revealed it was conducting a probe into Quindell......Read more here
Previous AAD Blog pages: August 2015
Scandal-riven Quindell hits the skids as the Serious Fraud Office opens investigation into firm
Previous AAD Blog pages: August 2015
Quindell under investigation by financial regulator
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