Offices of King & Wood Mallesons in the United Kingdom, Europe and the Middle East have closed facing reported debts of at least £35 million (US$43.3 million). The European, UK and Middle East (EUME) arm of the firm operated separately from the firm’s China and Australia business, and the China and Australia branches are not considered to be in danger of closing.

An email sent by EUME managing partner Tim Bednall to staff and obtained by media reports read: “The UK firm, King & Wood Mallesons LLP, will appoint administrators today [January 17], following the finalization of terms for the sale (in parts) of almost all of the London and Cambridge practices to a number of other firms, including KWM China.”