Fresh accounting crisis looms for Australian law firm that bought Quindell’s legal business
The crisis at Slater & Gordon, the Australian law firm that bought Quindell’s legal business, deepened today as the firm asked the Australian Securities Exchange to suspend trading in its shares ahead of its results announcement.
The firm said it requested the suspension so it could comb through “certain material items” in its results for the six months to December which are “not yet finalised”.
It specifically referred to the valuation and writedown of goodwill for the UK business.
It said it expects to announce the half year results on Friday, with share trading resuming on Monday.
Speculation is growing that it is linked to its acquisition of Quindell’s legal arm for £600m last year.