King & Wood Mallesons' struggling European arm (KWME) has told all staff that they will not receive any salary payments ahead of the firm's imminent administration as its main lender, Barclays plc, will no longer authorize the payments. Quantuma has replaced AlixPartners as KUME's proposed administrator.
January 10, 2017 at 12:01 AM
1 minute read
King & Wood Mallesons’ (KWME’s) European arm has told all staff that they will not receive any salary payments ahead of the firm’s imminent administration as the firm’s main lender Barclays will no longer authorise the payments.
European managing partner Tim Bednall sent an all-staff email Tuesday confirming that Barclays is no longer willing to approve the weekly salary payments that staff had been expecting to receive in January.
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