Sacked City firm staff offered maximum of £4,000 each
Staff sacked during the crash of one of the City of London’s biggest law firms are to receive slightly less than £4,000 each from the practice’s administrators, it was reported yesterday.
The European and Middle East branch of King & Wood Mallesons in London went bust at the beginning of the year, leaving about 200 staff in the dole queue. Yesterday reports said that in a deal struck with the administrators the most any individual former staff member could claim would be £3,832. According to The Lawyer magazine, the deal covers eight weeks’ pay, capped at a maximum of £479 per week per person.
The Law Gazette reported that the defunct firm’s administrator, Quantuma, confirmed that KWM had committed a “technical breach” in the redundancy consultation rules. The process had to finish early as the firm went into administration.
The website Legal Week reported that the law firm acting for the former staff, Herrington Carmichael, has advised that the deal is “the maximum recoverable valuable available”.