KWM EUME in turmoil as recapitalization fails
The recapitalization of the UK, Europe and Middle East partnership of King & Wood Mallesons has failed as its partners were unable to commit enough capital to match the lifeline offer from the Chinese and Australian partnerships.
It’s understood that only 20 per cent of regional partners were willing to put cash into the firm and commit to a 12-month lock-in. The firm needs capital to meet its debt obligations.
A statement from the firm said that it is “considering a range of strategic options, including mergers, in conjunction with the firm's bankers and financial advisers.”
Global roles announced at international firms
Two international firms have announced appointments to global roles.
Freshfields Bruckhaus Deringer has appointed Adrian Maguire as co-head of its global financial investors group, one of its eight sector groups. He will work alongside Markus Paul and succeed David Higgins who will return to fee-earning on 1st
The group comprises lawyers across Europe, MENA, Asia and the US and acts for financial investor clients, including private equity funds; pension funds; infrastructure funds; sovereign wealth funds; and alternative capital providers.
Meanwhile, Simmons & Simmons has announced that commercial litigation partner Stuart Dutson will head the firm’s international arbitration practice comprising more than 20 dedicated partners across its global footprint.
Dutson joined the firm’s London office from Eversheds earlier this year having previously held roles at Linklaters and legacy firm Herbert Smith.
Singapore chief justice to speak at law firm’s lecture
The Herbert Smith Freehills-SMU Asian arbitration lecture takes place in Singapore tonight (Thur 24. Nov) and will be given by the city-state’s chief justice The Honourable the Chief Justice, Sundaresh Menon.
He will speak on the role of the party-appointed arbitrator, discussing whether they are adjudicators, advocates, or something in between. Commentary will be provided by Alastair Henderson, Herbert Smith Freehills' Head of International Arbitration, Southeast Asia.
The lecture series, hosted by Singapore Management University’s Centre for Cross-Border Commercial Law in Asia this year, was established in 2010 through funding from Herbert Smith Freehills, and promotes collaborative forms of dispute resolution and access to justice.