UK 14:39 Sunday, 4 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The Sunday Telegraph is reporting that Aussie poltroons Slater & Gordon (SHG) has called in experts to look at a restructuring of its borrowings as the problems caused by the £600 million acqusition of the fraudulent operations of Quindell (QPP) mount. This should come as no surprise to ShareProphets readers - I explained HERE on November 21 2015 exactly why S&G was a ZERO. The shares - A$8 after the Quenron purchase are already down to 62.5 Aussie cents. The fact is that with a market cap of A$222 million but debts of A$700 million it will be out of cash - unless it defers debt repayments - by mid year.
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Comments
Temptress
The sooner these ambulance chasing arseholes are liquidated the better.
Claims Specialist
The real problem for S&G is that the insurers are on go slow when it comes to paying out on claims.
There is little or no incentive for insurers to pay and such delay causes huge cash flow issues for S&G and several other claimant firms in this sector.
Coupled with the Osborne announcement the insurers know that they have S&G on the run and they can scent blood.
Quindell were suffering the same fate before they miraculously managed to offload the poisoned chalice.
Therefore trying to forecast cah inflows is far from a precise science in this market and claimant firms need very deep pockets to withstand the uncertainty.
Good luck to the investors.
MrMoto
How many “Oh, so you know better than S & G do you?” did you get from the Quindell fanatics in 2014/15? Proves as a reminder to us all, just because authority figures (in this case, a billion $ company) does something, it does not mean they are always correct. Same applies to Fed, Governments etc. I think this will sink S&G, the acquisition was just too big, even then with the sniff it had of it going wrong.
A short when S& G bought QPS, whoever did that got some trade.
filthy lucre
Two points, before you douse yourself in ouzo with excitement Tom.
Osborne’s comments in the Autumn Statement were intended to play to
outraged ‘Daily Mail’ readers appalled by the ‘Whiplash Capital’ type
stories in the media.
These proposals will be consulted upon, and propose some pretty major disruptions to the
established legal principles and common law in England and Wales.
If they are enacted as he proposes, I will eat my hat.
With regard to capital restructuring. Helphire (now Redde) pulled this off a couple of years back, since when their
shares have multiplied ten fold.
Just sayin’
Tom Winnifrith
Filthy
That someone who still defends the fraudster Terry thinks I'm wrong only convinces me more that I'm right
T
alcira16247
Tom
Commenting at the time, Slater & Gordon managing director Andrew Grech described the Quindell acquisition as a ‘transformational’ opportunity. Well, the Aussie poltroon got that one right!
Read more: http://www.smh.com.au/business/markets/slater—gordon-shares-plunge-on-quindell-probe-reports-20150625-ghxd02.html#ixzz3yucTfRwW
I dearly trust all the Quindell shareholders daily sing Waltin Matilda, drink Fosters and celebrate Australia Day….. cos without the Aussie legal wizards, giving them a get out of jail card, your prediction of total wipeout, Tom, would have been dead on the money.
Looks like the S & G shareholders are going to take the caning instead…… wonder if YLF have any offices in Kangaroo Land?
ROB
After reading up on this outfit it seems problems were already there prior to the purchase of Quindell.