King & Wood Mallesons’ partners in Asia have agreed to throw the firm’s beleaguered European arm a financial lifeline, conditional upon a £14m capital contribution and a 12-month partner lock-in reports the global legal post
Here’s the main points
Details of the planned rescue package were revealed yesterday at a meeting of the verein firm’s EUME partners in London. With the legacy SJ Berwin business currently staring down around £30m in debt, the firm’s Asia arm has offered financial aid on the condition that the European partnership press ahead with its planned £14m capital raising. Partners will also need to commit to staying with firm for at least the next 12 months in order to receive the aid.
Read the full article at http://www.globallegalpost.com/big-stories/kwm-europe-offered-conditional-bailout-by-asia-partnership-64042388/
