KWM rescue deal fails
King & Wood Mallesons’ Europe arm has failed, according to a firm spokesperson. The Chinese and Australian arms were prepared to put forth funding, contingent on EUME partnership agreeing to a plan that included providing capital and committing to a lock-in period of one year. Some EUME partners reportedly did not agree to the lock-in terms.
In an effort to rescue its EUME arm, KWM leadership has considered a variety of options, including mergers. The firm has not yet confirmed its next steps for a solution, although many employees anticipate the firm to collapse following the failure of the bailout deal.