King & Wood Mallesons’ (KWM) management told clients this week that the collapse of its legacy SJ Berwin business in the U.K. and Europe was the result of poor leadership and a lack of consensus among European partners, and described how the firm plans to rebuild its operations across the region.
In a statement dated Jan. 19 and posted in Chinese on the social media app WeChat, King & Wood Mallesons’ China management committee references the failure of last October’s Europe, U.K. and Middle East (EUME) recapitalization plan, which had aimed to bring in £14 million ($17.3 million) and reduce debt, which had risen to £35 million ($43.2 million).
