The firm announced this week that newly appointed general counsel and company secretary Moana Weir has resigned from the role 'effective immediately.' Ms Weir came to Slater & Gordon from job search engine Seek, where she had served as GC for six years. Her appointment was announced on October 27 last year, and she commenced in the role just two months ago on January 29.
According to a statement from the firm, Ms Weir's now empty GC chair will be filled 'with an external adviser while re-assessing [Slater & Gordon's] business needs.' The troubled ASX-listed firm is currently racing against the clock after being handed a two-month window by its banks to develop a repayment plan for a A$741m debt. It is also staring down several potential class action lawsuits brought on behalf of investors in the firm.
Slater & Gordon unveiled a staggering $958m loss for the six months to December 31, much of it attached to the firm's acquisition of the professional services arm of UK insurance firm Quindell. The listed firm's share price has slumped from $6.98 per unit 12 months ago to just A$0.25 per unit.
Sources: The Lawyer: Legal Business
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