Serving Two Masters: Conflicts of Interest in the Modern Law Firm
It is a sine qua non of legal practice that lawyers should not allow themselves to act for two clients whose interests may,potentially, conflict. However, this principle is being placed under increasing pressure, the main reasons for this being increased demand for specialist legal services, the globalisation of commerce, a dramatic growth in the size of leading law firms, and significantly greater mobility within the legal profession.As a result, there is a growing trend, especially within the commercial legal environment, for solicitors to face conflicts of interest which have no easy solution. Increasingly, conflicts are being 'managed', rather than avoided altogether. This is a field within which the Law Society's own rules are flouted on a daily basis, and in which these rules appear increasingly at odds with the common law.Based on extensive interviews with lawyers and their clients, this book provides the first thorough consideration of how conflicts of interest are handled within law firms. It will be essential reading to all those who have an interest in professional legal ethics, including law students, legal scholars, practitioners, and regulators.
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8th edn adopted Alcatel approach barristers beneﬁt Bolkiah v KPMG breach chambers Chinese wall classiﬁcation Code Commercial Lawyer conﬁdence conﬂict arises conﬂict situations conﬂicts of interest continue to act Court decision deﬁned difﬁculties direct conﬂict England and Wales ensure example existing client fee-earners Fiduciary ﬁduciary duties ﬁnancial ﬁnd Firm 14 ﬁrm acting ﬁrm of solicitors ﬁrm to act ﬁrm’s ﬁrst ﬁve ﬂict former client Guide Halewood International Ibid identiﬁed instructed interview was conducted involved issues large City ﬁrms large ﬁrms law ﬁrms Law Journal Law Society rules Legal Ethics legal practice legal profession legal services Legal Week litigation London Lord Millett Lord Woolf matter conﬂicts National Law Journal ofﬁcers ofﬁces parties Phillips Fox potential conﬂict Prince Jefri Bolkiah principle problems Professional Conduct protection Rakusen reﬂect regulatory relationship relevant conﬁdential information Russell McVeagh senior partner Society’s specialises speciﬁc sufﬁcient tion transaction types of conﬂict