Is Slater & Gordon going Broke?

Discussion in 'Living Room' started by RPI, 27th Nov, 2015.

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  1. Azazel

    Azazel Well-Known Member

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    Ah Ok.
    I know someone who they're trying to talk into going to a bulk settlement conference.
    Churn em through I guess.
     
    Azazel, 6th Mar, 2016
    #61
  2. Lizzie

    Lizzie Well-Known Member

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    Read an article a few days back - sorry can't remember where - that explained why the plunge in value.

    Apparently, late-ish 2015 they bought a high profile small claims law firm (or some such) for $1.something bil ... then the UK laws changed basically wiping out the small claims industries need for lawyers ... or some such ...

    Slater and Gordon: What happens when the ambulance chasers crash
     
    Lizzie, 6th Mar, 2016
    #62
  3. Ted Varrick

    Ted Varrick Well-Known Member

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    If only these guys had shown some acute investment sense, and bought into Hunter Valley primary industries and accommodation.

    Their balance sheet would be looking a lot better than having a big fat 950m (ish) hit belt it around...
     
    Ted Varrick, 6th Mar, 2016
    #63
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  4. larrylarry

    larrylarry Well-Known Member

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    That's not necessarily a good thing for claimants... Each case is different and solicitors should get the best outcome for each case. Client first. Fees last.
     
    larrylarry, 7th Mar, 2016
    #64
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  5. Anthony416

    Anthony416 Well-Known Member

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    I have never come across a legal firm yet where I felt it was "Client first. Fees last" :(
     
    Anthony416, 7th Mar, 2016
    #65
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  6. willair

    willair Well-Known Member Premium Member

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    willair, 7th Mar, 2016
    #66
  7. 158

    158 Well-Known Member

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    McAleese (MCS) is on the radar at the moment.

    Based here in Mackay. Doing it very tough.

    40% of business is one customer (Atlas Iron [AGO]) which is also not doing very well.


    pinkboy
     
    158, 7th Mar, 2016
    #67
  8. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Theres plenty out there. I uswd to work for a lawyer who didnt get around to billing or charging clients. I seen him represent one client and pay for a $900 report himself yet he didnt charge a cent. This caused me great distress.
     
    Terry_w, 7th Mar, 2016
    #68
  9. Azazel

    Azazel Well-Known Member

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    Yeah, will be interesting to see how it plays out.
    I guess they could ask how much it's going to cost, and postpone if it's the same cost as an individual settlement conference.
     
    Azazel, 7th Mar, 2016
    #69
  10. Azazel

    Azazel Well-Known Member

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    Anyone know of any updates to this saga?
     
    Azazel, 7th Apr, 2016
    #70
  11. RPI

    RPI SDA Provider, Town Planner, Former Property Lawyer

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    Down to 25 c a share.

    Also believe that they have to provide a credible plan to their banks to repay the $700m odd debt within the coming days. If not the debt will be payble in a years time. Considering their current market cap is $88m and their profits are nowhere near $700m it is not looking good. But really in the banks hands, do they take a bath now or do they think Slaters can trade out of it.
     
    RPI, 7th Apr, 2016
    #71
  12. 158

    158 Well-Known Member

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    'Haircut' is the latest trendy term. Read it in the Arrium articles several times today after a friend of mine alerted me to the term a few weeks ago.

    pinkboy
     
    158, 7th Apr, 2016
    #72
  13. Azazel

    Azazel Well-Known Member

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    Last I heard they were trying to settle as many cases as possible in March and April because the bank was calling in their loan after this time?
     
    Azazel, 7th Apr, 2016
    #73
  14. Azazel

    Azazel Well-Known Member

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    I think I heard the Mayor of Whyalla use this term, in reference to banks, they should take a loss to delay some job losses? Yep.
     
    Azazel, 7th Apr, 2016
    #74
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  15. Ted Varrick

    Ted Varrick Well-Known Member

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    If it were suggested to the Mayor of Whyalla that he or she take an equal "haircut" to the council budget, to kick in the same community share (as it's so important to the community...) as the banks, would anybody feel that that was entirely reasonable or just another causation of the bringing up of lunch?
     
    Ted Varrick, 10th Apr, 2016
    #75
  16. Azazel

    Azazel Well-Known Member

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    Azazel, 5th May, 2016
    #76
  17. RPI

    RPI SDA Provider, Town Planner, Former Property Lawyer

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    RPI, 5th May, 2016
    #77
  18. Azazel

    Azazel Well-Known Member

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    It seems pretty improbable.
    That's a lot of money to pay back, way more than projected earnings.
     
    Azazel, 6th May, 2016
    #78
  19. willair

    willair Well-Known Member Premium Member

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    They still seem to be trading in the low volume value range,but still trading..imho..
     
    willair, 14th Nov, 2016
    #79
  20. Perthguy

    Perthguy Well-Known Member

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    Update today: Slater & Gordon Limited (ASX:SGH) $0.13 $-0.04 (-21.88%)

    Down another 21%. Ouch!
     
    Perthguy, 27th Feb, 2017
    #80
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