Slater and Gordon trading halted

SHARES in Slater and Gordon have been put in a trading halt ahead of critical updates on ongoing legal dramas buffeting the stricken law firm.

The company yesterday announced the share market operator had agreed to halt trading in its shares ahead of an announcement on key issues.

Under a recapitalisation deal announced two weeks ago, Slater and Gordon’s lenders will assume 95 per cent of its stock, conditional on the outcome of legal proceedings. Slater and Gordon is facing class actions from aggrieved shareholders and has launched its own claim following the collapse in the group’s value following its disastrous $1.2 billion acquisition of British firm Quindell in 2015.