ILH’s future under a cloud
Listed law firm Integrated Legal Holdings (ILH) has gone into voluntary administration.
The publicly listed ILH Group made the announcement today (18 December) via a release sent through to the Australian Securities Exchange.
KordaMentha executive director Michael Brereton and partner Cliff Rocke are handling the administration process.
ILH has had a horror 12 to 18 months financially, with a net profit loss after tax of 540 per cent between FY13 and FY14.
Managing director Graeme Fowler resigned from the company on 1 December, with the company requesting a trading halt on 10 December.
Today’s ASX announcement said that the subsidiary law firms under the ILH umbrella – Rockwell Olivier, Signet Lawyers, Civic Legal and Law Central – will “continue to operate on a business-as-usual basis”.
Lawyers Weekly contacted ILH chairman Matthew Driscoll prior to publication, but he was unavailable.