KWM Asia sets terms of Europe and Middle East bailout

The Asian division of King & Wood Mallesons has set forth its terms for a potential bailout package designed to aid the firm’s struggling European division. The terms were discussed at a partnership meeting at the European and Middle East branch of KWM on November 10. According to the terms, KWM’s China office will contribute the balance of cash toward Europe’s more than £30m in debt if the firm continues with a proposed £14m recapitalisation plan, contingent upon legacy SJ Berwin partners agreeing to a 12-month lock-in. The deal must be approved by a vote of at least 60% of Europe and Middle East partners.

KWM Asia sets terms of Europe and Middle East bailout legalbusiness.co.uk Fri, Nov 11, 2016