This seminar will operate under Chatham House Rule
Lehman Brothers and the Lawyers:
(When) Are Lawyers Ethically Responsible for Client Wrongs?
to be delivered by
Professor David Kershaw, LSE
Professor Richard Moorhead, UCL
Professor Joan Loughrey, University of Leeds
Chris Perrin, Executive Partner and General Counsel, Clifford Chance LLP; Chairman, City of London Solicitors Company Rules & Regulation Committee
Chief Executive, Solicitors' Regulation Authority
on Wednesday 30 January 2013 at 6pm
(Registration from 17:30, talk will begin at 18:00)
followed by drinks reception
About this event:
Should transactional lawyers bear responsibility when their competent actions facilitate unlawful activity by their client? Or is a lawyer’s only concern to act in the client’s interest by providing her with the advice and support she seeks? The high profile failure of Lehman Brothers provides a unique opportunity to explore these questions in the context of the provision of a legal opinion by a magic circle law firm. A legal opinion which, although as a matter of law was accurate, was a necessary precursor to an accounting treatment by Lehman Brothers which was described by the Lehman’s Bankruptcy Examiner as ‘balance sheet manipulation’. The article argues that the law’s existing understanding of when consequential responsibility should be imposed on those who assist another’s wrongdoing provides a theory and a tool-kit whose application could and should be extended to the professional regulation of transactional lawyers.
The UCL Centre for Ethics & Law was established in 2009 to reflect the growing need for enhanced collaboration between academics, practicing lawyers and industry, given the fast changing and increasingly interdisciplinary nature of the global issues lying at the intersection between ethics and regulatory compliance. The work of the Centre is resolutely multi-disciplinary and practice-oriented, focusing on a number of current themes including the professional ethics of in-house and external legal counsel, ethics of risk, anti-corruption, global business and human rights, and distributive justice.
with thanks to our donors Norton Rose, Ernst & Young, Shell, BAE,
AstraZeneca, HSBC and Carillion
The Faculty of Laws at UCL has a world-class reputation for research, and has been rated by the UK government in the highest categories for both research and teaching.
We value research not only in contributing to the quality of our teaching and the supervision we give our students, but also in its contribution to the development of law and its influence on legal practice and public policy.
The Faculty was ranked 2nd in the UK by The Times Good University Guide (subject table: Law) in 2008. UCL is ranked 4th in the World University rankings.
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