KWM managing partner and CFO to lead team of more than 50 staff staying on for wind-down
Administrators pay staff staying on to work on administration process
January 19, 2017 at 02:19 PM
3 minute read
The original version of this story was published on Law.com
The administrators of King & Wood Mallesons' (KWM) European arm have put together a team to work on the wind-down of the legacy SJ Berwin business, with more than 50 KWM staff agreeing to stay on and help with the process.
Europe, UK and Middle East (EUME) managing partner Tim Bednall and CFO Michael Boot are heading up the team of 50-70 staff who will work with the administrators to tie up the loose ends of the business.
All staff kept on have now been paid by Quantuma, which was formally appointed as administrator earlier this week.
Meanwhile, Ashfords head of professional and financial risks Sam Palmer, who has been brought in by Quantuma to manage the billing and collection of remaining files and the allocation of client monies, has written to all ex-partners to remind them of their ongoing responsibilities with regards to client matters, after concerns were raised by Quantuma about confidential client information.
A source close to the matter said: "A warning is being sent to all, without pointing fingers at individuals."
KWM Europe filed for administration this week (17 January), in a move that represents the end of the line for the legacy SJ Berwin business and the biggest ever UK law firm collapse.
The administrators are being co-advised by CMS Cameron McKenna partner Rita Lowe and Steven Cottee of Pinsent Masons.
Separately, KWM's China arm has agreed deals with more than 30 partners to stay on and maintain a Europe and Middle East presence for the firm, including seven who will maintain a London presence for the firm, covering corporate, finance and disputes, as well as others in Frankfurt, Dubai and Riyadh.
KWM's Madrid and Milan offices – both of which operate as legally separate entities to the EUME business – are also expected to stay with the firm. The firm's Brussels office, which has just one partner, Ramon Garcia-Gallardo, is also expected to join the new EUME platform as an affiliated office, while it is understood that one Paris partner is in discussions to remain with the firm.
As a first step towards this integration, all of the remaining partners will fly to China in February to attend KWM's annual partner meeting which, this year, will devote a significant amount of time to looking at how to relaunch the firm across Europe and the Middle East.
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