KWM pushes back administration date


By Kathryn Higgins

10 January 2017 at 12:42 BST


Beleaguered King & Wood Mallesons is buying time as it attempts to negotiate an eleventh-hour deal with the firm's Chinese partnership.

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With the Europe and Middle East arm’s first notice to appoint administrators expiring today (10 January), it is understood that KWM has this morning filed an application to renew its notice and to subsequently push back the administration date by 10 days. The move, which was widely expected, gives KWM more time to try and sell of as many EUME assets as possible before administrators are called in. The verein’s China partnership is currently mulling the purchase of KWM fee-earners and staff currently based in London, Dubai, Spain, Italy and Germany. While KWM China has been gifted more time to finalise the deal, today’s notice binds KWM EUME to push ahead with the administration in 10 working days’ time.

Sources: The Lawyer; Legal Week

 
   
 
 
 

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