Olswang partner Jeremy Mash is understood to be advising the firm on a number of possible options for the case, including whether to bring it in London or Australia.
Commercial litigation partner Mash was made up to partner at Olswang in 2006. Recent client work includes defending the BBC and representing the winding up committee of Kaupthing bank.
Slater & Gordon announced to shareholders it would sue the group over lossesassociated with its acquisition of its professional services division Quindell earlier this week.
The firm suffered a £493m loss in the first six months of the 2015/16 financial year after an FCA investigation into Quindell’s profit figures led to the numbers being restated.
The FCA case closed to make way for an investigation by the Serious Fraud Office (SFO), which is ongoing.
It is understood Slater & Gordon’s claim will see it attempt to recover £50m of the purchase price of Quindell, which is currently held in an escrow account.
Slater & Gordon is itself facing a lawsuit over the timing and accuracy of the information the firm released to the market regarding its acquisition. Australian firm Maurice Blackburn has launched a class action against Slater & Gordon on behalf of those who acquired shares in the business between 1 April 2015 and 24 February 2016.
Slater & Gordon, which is listed on the Australian Securities Exchange, has seen its shares plummet 95 per cent since April last year.
The value of the shares depreciated due to the acquisition of Quindell but also due to proposed legislative changes in the UK that could overhaul the way road accidents are handled.
SGH Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
