Australian claimant firm Slater and Gordon is once again breaking new ground – but probably not in the way its visionary former CEO Andrew Grech imagined when he led it into the world’s first law firm listing in 2007.

Instead, with Grech ousted in June alongside the entire management board as part of a recapitalisation deal with lenders, and the UK arm to be hived off into a separate holding company entirely controlled by senior lenders, the embattled firm is standing out for the wrong reasons.