![Maurice Blackburn partners are concerned James MacKenzie could be used by Anchorage Capital to help turnaround the ...](http://web.archive.org./web/20170620172246/http://www.afr.com/content/dam/images/1/m/v/9/m/0/image.related.afrArticleLead.620x350.gwuyas.png/1497954822719.jpg)
Professional director James MacKenzie has resigned from the board of plaintiff law firm Maurice Blackburn and signed up as an adviser to the hedge fund likely to emerge with control of its primary rival.
Sources said Mr MacKenzie has been hired by the Anchorage Capital Group, a US hedge fund that owns 50 per cent of the debt issued by Slater & Gordon, which is going through a corporate restructure that could leave Anchorage as the majority shareholder.
The decision by the former chairman of the Mirvac property group worries some Maurice Blackburn partners, who are concerned his detailed knowledge of their business plans could be used against them.
Mr MacKenzie declined to explain what his role would be at Anchorage, which was reported by The Australian Financial Review's Street Talk column to be putting together a new board to oversee the listed law firm.
A Maurice Blackburn spokeswoman wouldn't say if the Melbourne-headquartered firm gave Mr MacKenzie clearance to join Anchorage after six years on its board. She declined to make any executives available for comment.
"James has provided us with valuable input and made a very good contribution to maturing the business," she said. "We wish him well for the future."
Turnaround plan
Maurice Blackburn partners are concerned the veteran Melbourne businessman would be used by Anchorage Capital to help turnaround the heavily indebted Slater & Gordon, which is expected to give its lenders 95 per cent of its equity, sources said.
"You'll have to speak to Maurice Blackburn or Anchorage," Mr MacKenzie said when asked for comment. "What you're putting to me is false."
The accountant was managing director of funds management and insurance at ANZ Banking Group from 2000 to 2001, chief executive officer of Norwich Union Australia from 1997 to 2000 and TAC chief executive officer from 1994 to 1997, according to an online biography.
He later served on the boards of Yancoal Australia, a large mining company, Pacific Brands and Melco Crown Entertainment, the biography says.
Slater & Gordon told investors on March 31 that it expected negotiations with its main lenders to be completed in a few weeks.