June 29 (Reuters) - Australian law firm Slater and Gordon Ltd SGH.AX on Thursday said it would enter a recapitalisation deal that would give almost full ownership of the company to its lenders.
Under the recapitalisation deal, the lenders, led by Anchorage Capital, who own more than three-fourth of the beleaguered company's secured debt, will get 95 percent of the company's equity, the company said in a statement. company added that Andrew Grech will step down from his position as group managing director, effective immediately.