Michael, about 3 years ago I applied for an Executive Assistant role in Slater and Gordon. I received notification that they had received my application. After that crickets !! They didn't even have the common decency to inform me that either 1) I wasn't qualified enough for the role, which I was, or 2) The role had been filled. I am so glad I didn't get the job.

Thanks Michael for giving us a reason to smile this morning.

They have been destroyed, for sure.

TEN CENTS only (after further 18% drop). Was 16 cents last week. SGG ASX aka Slater and Gordon are as so TOAST they are creating carbon.

There are some businesses that just have to wear what is loosely described as "sovereign risk" and that's the way it should be. If your business model is structured around returns based on government policy, you are asking for trouble. Governments reform policy, amend legislation all the time and that is their right for the overall benefit of their communities.

Slater & Gordon bought into the UK law business expecting to make much of its money out of personal injury compensation claims where the applicant is entitled to free legal representation, with the taxpayer picking up their legal expenses. The UK government has made some reforms to personal injury compensation policy over the last two years which affect solicitors. It is about to introduce another change shortly and the UK personal injury solicitors are up in arms.

This from a January 2017 article in Lawyer Monthly, a UK online periodical -

....."There are a number of common misconceptions among the general public when it comes to personal injury law. The most prevalent tends to be the idea that many – if not most – claimants are fraudulently exaggerating their injuries, to maximise insurance pay-outs following a road accident or workplace injury.

To tackle this perceived problem, the Government plans to reform the way claims are dealt with. This would mean that anyone with a claim worth less than £5,000 would be denied the opportunity to bring a claim to a regular court. Instead, they would have to bring a ‘small claim’ and, in doing so, would have to pay their own legal costs or face being unrepresented.

To give an idea of the impact of these changes, 95% of the claims currently going through court would be affected – losing a right to no win, no fee representation...."

http://www.lawyer-monthly.com/2017/01/is-the-uk-government-forgetting-the-real-victims-of-personal-injury/

This will impact hard on S&G's UK division's bottom line.

The NSW government is also about to introduce reforms to personal injury compensation claims under its Green Slips to stop the frauds and to reduce the legal costs associated with soft tissue claims which represent the majority of the claims. You will not need legal representation for soft tissue claims. "There will be an ongoing role for lawyers in the CTP scheme, but it will focus on more seriously injured people obtaining benefits under common law and significant disputes in relation to defined benefits, the details of which are being finalised. A new Claims Support & Advocacy Service will assist injured people to make claims and advise them on how to resolve any disputes."

http://greenslipreforms.nsw.gov.au/resources/claims-versus-facts/

Slater & Gordon will not be able to resurrect itself out of this mess. The taxpayers won't be paying for their services in the UK and NSW. Where will they get their income to pay their debt to the bankers and their overheads??? They are GONE. Greed is not good.

Do they have any of those special "Self-Witnessing Mortgage Documents" or the Self-Witnessing Special Power of Attorney Documents" on special"

How about the Tardis that allows S. & G. Partners to be in Melbourne AND in Perth, Western Australia at the same time? Would I be able to get them on the redemption of ONE 10 cent S. & G. share, or would I have to cough up a whole 20 cents worth?

I'd still like to buy the famous sign on their smallest Conference Room - the "Professor, Doctor Juliar Gillard O.A.; D.C.M. (Order of the ARSE; Don't Come Monday) Conference Room" with its' flushable porcelain throne. I reckon that would be an undying source of inspiration if hung on the inside door of my similar one-seat Conference Room at home.

I believe they were doing pretty well, and then they hired Julia Gillard.

Nine network are still running
commercials for S & G !!
How does that work?

Is that on the seat or actually in the bowl? Would make a good aiming target.

Files? What files? There are no files
Who keeps files?

Report from the HeraldSun:

VICTORIA’S top barristers have been warned not to do business with Slater and Gordon unless paid beforehand amid concerns about the embattled law firm’s rising debt.

List A Barristers, which represents almost 80 commercial barristers, sent a memo to its members on Tuesday “strongly” recommending work requested by Slater and Gordon “only be undertaken once we hold funds”.

In the email, seen by the Herald Sun, List A Barristers senior clerk and executive director David Andrews tells its members: “I strongly recommend that if you have any unbilled work you have undertaken on instructions from Slater and Gordon, you prepare and send an account forthwith.

“I recommend even more strongly that any new work offered to you by Slater and Gordon or ongoing work requested by the firm only be undertaken once we hold funds in OUR trust account.

“It is far preferable that we hold trust monies rather than the firm doing so.”

The warning comes as Slater and Gordon faces increasing financial pressure and is at the mercy of its lenders, with their share price yesterday plunging 22 per cent to just 9.8 cents.

The company revealed earlier this week, in releasing its financials for the six months to December 31, its debts exceed its total assets by $126 million.

Its cash flow is also $11.4 million in the negative.

There is another word for "negative cash flow".

The long drawn out process has provided time for the rats to bail. Share holders have had years to do their due diligence. It's not as if no one is waving a red flag about SLAG. Edward James

Insolvent. How do they still trade? Edward James

Any buyers for Slugger & Hardon, anyone?. A big NO!!.