UK 23:19 Tuesday, 22 September 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.
Just last week Quisling Quindell (QPP) blogs like Betaville promised us that a bid from Slater & Gordon was imminent. Oh dear. More lies. Hard cheese morons. Slater & Gordon has just released its interims and they do not read well for Quenron.
Already a member? Sign in
• All premium articles
• Tom Winnifrith’s Bearcast
• Access to all the entire nearly 13 year archive
• ShareProphets Daily Newsletter
Cancel any time
This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
Comments
Steve
As noted in the S&G financials the payment to Quindell was £12.1million in Dec-2014 and was an advance and was secured – as confirmed in S&Gs cashflow statement under cashflow from investing activites.
So S&G know where that sort of transaction should go in its cashflow statement – investing activites.
Compare to Quindells statement from 12th Jan…
“Operating cash inflow for H2 2014 (before exceptional items but including initiatives that concluded in the period) was approximately £13 million.”
Quindell already confirmed in the statement on 2nd January that this agreement was one of their initiatives, so it is clearly included in the above description of operational cash inflow. So despite S&G clearly understanding a secured advance is cashflow from investing activites, Quindell seem to think that a secured advance received is a cash inflow from operational activites.
RS
“Secured” indicates to me that the files are still with QLS, who are working on them FOC for SG ! Furthermore why would the banks allow SG to take precedence over their existing fixed and floating charges ? They would never do so unless they also reduced the o/d facility at the same time to compensate for the reduction in their security (WIP,debtors etc)
Ben de Dick
For those actually interested in the truth rather than Tom’s gross distortion of it, I actually suggest you listen the presentation from the S&G CEO on the link below:
http://www.openbriefing.com.au/OB/Slater—-Gordon-Limited/2015/2/10/H1-FY15-Results-Presentation-/1683.aspx
What was actually said about Quindell occurs around 17:10 mins in and around 25:50 mins in – so start there if you want to get the important QPP bits, including his assessment that (and I paraphrase) ‘there’s nothing fundamentally wrong with the QPP business model’.
Give it a listen and make your own mind up. For those with more time it’s worth tuning into the lot as it gives a fascinating insight into the UK legal market, including interesting news about the ‘aggressive growth’ of NIHL (hearing loss) claims in the UK and a few other choice nuggets.
zeronegative
I’m still none the wiser why QPP are selling such a fantastic business. Its appears QLS are making money by the bucket load, with incredible margins and yet QPP has put the business up for sale.
So QPP are selling the largest, most profitable part of the business to concentrate on the parts of the business which either lose money or make only a small profit.
Somebody from the QPP bridgade like to explain that genius plan?
zeronegative
Tom,
Any idea when the next tax bill to HMRC is due? That’s a bunch more money to find.