KWM's "hardship fund" has been closed with the details of what it has actually achieved shrouded in secrecy.

The fund was set up by a few partners of the resurrected, miniature KWM Europe after the former KWM Europe and Middle East cratered in January. At the time of the launch, KWM told RollOnFriday that the aim was to help former staff who were in "imminent financial difficulty".

KWM has now drawn stumps on the charitable endeavour, but mystery surrounds whether it has provided any meaningful help to shafted staff. A spokeswoman for the firm told RollOnFriday that everything about the fund is confidential, while an article in The Lawyer reported that "up to" 20 former staff could benefit. Which could mean one, or none. Even if the fund helps 20 people, it's hardly a Great Expectations windfall given that the old KWM sunk with all hands, leaving hundreds of staff affected. Around 200 of them have had to resort to commencing litigation in order to seek some form of compensation.

KWM was also tight-lipped about how much money beneficiaries would receive. It would of course be rather embarrassing if it transpired that a less-than-generous sum was raised from ex-KWM partners, given their form for being tight-fisted with staff. When the firm was sinking they voted not to put their hands in their pockets to bail it out, and many opted to jump ship for hefty salaries and safe berths elsewhere instead.


Now on just £600k a year, an ex-KWM partner was sadly unable to contribute to the fund.

 

The fund might have been a huge success. But there's no way to know, and lots of reasons to doubt until cagey KWM opens its heart. If you have benefited from the fund and would like to provide some details, do feel free to let us know.
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