KWM bailout deal to affect salaried and equity partners

King & Wood Mallesons has confirmed that the proposed Europe and Middle East bailout deal will involve guaranteed minimum earnings to equity partners, as well as a request for cash contributions from salaried partners. According to the terms set by the firm’s Chinese and Australian management team, equity partners will be assigned to a point system, under which equity partners will earn a minimum value provided they abide by a lock-in agreement. Salaried partners are being asked to contribute £60,000 to the business in order to help reduce the debt load carried by the Europe and Middle East division, which currently stands at over £30m. The bailout terms are pending a vote in which at least 70 of the firm’s Europe and Middle East partnership must approve.

KWM bailout deal to affect salaried and equity partners legalbusiness.co.uk legalbusiness.co.uk Tue, Nov 15, 2016