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We are aware of recent newspaper reports that have speculated that Slater & Gordon's proposed restructure will 'extinguish' the class action. We believe that such reports may be based on background information provided by the company, the hedge funds which have purchased its debt, and/or their advisors. Maurice Blackburn will resist any attempt to bar the legitimate claims of group members outside of the normal settlement process. In that respect, we continue to engage in a court-ordered mediation process with Slater & Gordon and other stakeholders. Discussions taking place in that mediation are confidential, but we can confirm that, to date, no resolution has been reached.
In light of the ongoing mediation, the timetable for the proceedings has been extended as follows:
- SGH to file and serve its Defence and any Cross-claims against third parties (Cross-respondents) by 26 May 2017
- Cross-respondents to SGH Cross-claims to file and serve Defences by 23 June 2017; and
- The Applicant to file and serve his Reply to SGH’s Defence by 23 June 2017.
A directions hearing before His Honour Justice Middleton remains scheduled for
2 June 2017.
