KWM European arm sets administration date in January

The struggling European division of King & Wood Mallesons (KWM) has announced to its staff that the firm anticipates moving into administration on 16 January. The European division is carrying debt of more than £30m following failed recapitalisation and bailout efforts. Although employees have been told they will continue to be paid for the time being, lawyers no longer need to provide notice to leave the firm, and have been instructed not to take on new clients or projects. A KWM spokesperson said the firm continues to explore options.

KWM European arm sets administration date in January legalbusiness.co.uk Thu, Dec 15, 2016