Slater & Gordon told to hand over documents to ASIC

Slater & Gordon told to hand over documents to ASIC

The corporate watchdog has ordered law firm Slater & Gordon to hand over documents to ascertain whether the company’s books were doctored. 

ASIC slapped two notices on Slater & Gordon to produce documents related to ASIC’s investigation into the firm’s financial records and accounts. 

The documents cover the period from December 1 2014 to September 29 2015. 

According to a statement to the market, Slaters said the documents needed to be produced later this month and early in January 2017.

“In particular, the ASIC investigation seeks to determine whether those financial records and accounts were deliberately falsified or manipulated and whether the company or any of its officers have committed offences,” Slaters said.

Slaters said that ASIC had made it clear that the notices “should not be construed as an indication by ASIC that a contravention of the law has occurred and nor should they be considered a reflection upon any person or entity.” 

Slaters was forced to write off $879 million of the value of its purchase of Quindell’s Professional Services division in the UK last year. 

As a result, it had a gross debt pile of $765 million at the end of financial year 2016.

An award winning author and journalist, commentator, lecturer, and speaker, Leon is a freelance business journalist who covers a range of areas including politics, strategy, globalization, leadership and all the big trends ahead. His main skill is summing up all the news that’s around. For the last 30 years, his main focus has been on management issues. He also produces two podcasts for RMIT University, Talking Business and Talking Technology. Leon has worked for Fairfax, News Limited, AAP and the Herald and Weekly Times.

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