The move comes after a disastrous year for the company, during which debt increased by $623 million to help fund the purchase of UK firm Quindell’s professional services division.

A liquidator next?

Although the appointment of an investigating accountant often precedes the appointment of a liquidator, the strength of its existing franchise means this is unlikely to be the case for Slater & Gordon. Instead, the appointment has been made to give the banks a clearer picture of the company’s finances. Source: The Australian