Trevor Clark The Lawyer has kindly allowed me to reproduce the text of my opinion piece, published on Tuesday. Last week The Lawyer reported that lenders on the recent £3.5bn financing of The Access Group were dissatisfied with the role played by their lawyers, and with the designation model under which they were appointed. My … Continue reading Ethically dysfunctional: the problem with designation in leveraged finance
There are a number of ethical issues posed by the PCP v Barclays case which Richard summarised yesterday. If you’ve read the summary you will know that two sets of transactions are in issue. 1. The $3bn loan made by Barclays to Qatar’s Ministry of Finance as part of a significant equity injection to shore … Continue reading PCP v Barclays: The Dirty Work of Lawyering?
Trevor Clark The current disruption caused by COVID-19 is often and rightly described as “unprecedented”. So perhaps we should not be surprised by unprecedented practices that might emerge from it. One such practice seen in the private equity and leveraged finance sector appears to raise some ethical questions for the lawyers involved. It concerns a … Continue reading Accounting for COVID-19: Are Lawyers Helping Clients ‘Remould the Rules’?
TREVOR CLARK Liverpool FC has reversed its initial publicly announced decision to put many of its lower paid, non-playing, staff on government funded furlough. [https://www.theguardian.com/football/2020/apr/06/liverpool-reverse-decision-to-furlough-staff-after-fierce-criticism-coronavirus] This was after its first announcement was met with widespread disapproval, not least from its own fans and former players (among others). The general sentiment seemed to be that … Continue reading Big Firms Should Follow Liverpool, Not Tottenham
Trevor Clark The Financial Times ran an interview this week with two female partners who job share at the global law firm Baker & McKenzie's London office. You can read it here: https://www.ft.com/content/f650bb6a-ca46-11e9-af46-b09e8bfe60c0 . The FT interview delves a little into the everyday experiences of the two lawyers. It highlights some of the bigger issues and … Continue reading Can You Ride Tandem? Tackling Female Partner Drop-off in Large Law Firms
Trevor Clark Following a consultation it launched in January of this year, the Financial Conduct Authority (FCA) has decided to exclude the Head of Legal of all of the banks, insurance companies and other financial institutions that it supervises from Senior Manager accountability under the Senior Managers & Certification Regime (SMR). You can access the … Continue reading GCs To Be Excluded from SMR : Unsurprising but Worrying
Richard Moorhead, Alan Brener, Paul Gilbert, Steven Vaughan and I have written a paper in which we make a series of suggestions as to how in-house lawyers (IHLs) can work more closely with the non-executive directors (NEDs) in large business organisations. Our draft guidelines, which are drawn from a wide variety of professional and academic … Continue reading A Framework for In-House Lawyers to Work More Closely with Non-Executives: Tell Us What You Think