KWM seals deal to retain European presence after administration
Firm's China arm agrees deal to keep on 30-40 lawyers across Europe
January 12, 2017 at 12:53 PM
3 minute read
King & Wood Mallesons' (KWM) China arm has finalised a deal to keep on 30-40 lawyers from the firm's European arm, ahead of its expected move into administration.
The deal will enable the firm to retain a limited European presence, despite the collapse and breakup of the legacy SJ Berwin business, with which KWM merged in 2013.
London lawyers who have held talks to stay on with the firm include banking partner Vanessa Docherty, corporate partners Joseph Newitt, Greg Stonefield and Wang Lianghau, international arbitration partner Andrei Yakovlev and dispute resolution partners Dorothy Murray and Darren Roiser, as well as a team of eight litigation associates.
However, the exact breakdown of partners, associates and support staff staying on at the firm is as yet unknown, while the countries in which KWM will maintain a presence has not yet been confirmed.
It had been thought that KWM could retain partners in eight out of nine KWM European offices – London, Paris, Frankfurt, Madrid, Milan, Dubai, Brussels and Luxembourg, with the firm's Munich office expected to close.
The future of many KWM partners across Europe remains unresolved. Bird & Bird today (13 January) announced that it is taking on Frankfurt employment partner Barbara Geck, along with associate Daniela Gudat. Geck, who joined legacy SJ Berwin in November 2012, was head of employment in Germany.
KWM first filed an intention of notice to appoint administrators on 22 December, with AlixPartners named as the proposed administrator. This Tuesday (10 January), the firm filed a second intention of notice to appoint administrators, giving it more time to negotiate a deal to assemble a European business.
Later that day, managing partner Tim Bednall sent an all-staff email explaining that the firm's bank, Barclays, had refused to release funds for the firm to pay salaries, and that restructuring firm Quantuma had replaced AlixPartners as proposed administrators due to concerns about funding.
KWM has confirmed that London training contracts will be cancelled ahead of the administration of the European arm.
Meanwhile, Bircham Dyson Bell has become the latest in a raft of firms to benefit from the disintegration of KWM's European business, sealing a deal to acquire the firm's Cambridge office, with Goodwin Procter also agreeing to take on a five-lawyer Paris team, as well as a 26-strong team of partners, associates and trainees in London.
Other firms to have picked up partners include DLA Piper, Greenberg Traurig, Macfarlanes, K&L Gates, Winston & Strawn, Orrick Herrington & Sutcliffe, Fieldfisher, Addleshaw Goddard, Covington & Burling, Keystone Law, Proskauer and Goodwin Procter.
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