KWM pays out £1.2m to former proposed administrator AlixPartners
Restructuring firm bills more than £1m for advice on KWM Europe collapse
January 23, 2017 at 11:42 AM
2 minute read
King & Wood Mallesons (KWM) paid £1.2m in fees to financial adviser AlixPartners ahead of the administration of its European arm, it has emerged, with this figure expected to rise as the process continues.
AlixPartners was engaged by KWM and its main lender Barclays last year and was initially put forward as the firm's proposed administrator. However, it withdrew due to concerns about funding, prompting restructuring boutique Quantuma to step in as administrator.
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