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Course Details

This CLE course will provide practitioners with a framework to identify the most problematic and difficult to detect conflicts of interest and prohibited transactions. The panel will outline best practices for counsel to cope with conflicts and avoid prohibited transactions that could potentially result in disqualification, discipline, or even malpractice.

Faculty

Description

Conflicts of interest are a daily concern for most practitioners. Potential conflicts come in many forms, impacting business transactions or engaging in prohibited transactions, representations of multiple individuals, interactions with current clients, and decisions to take on new clients, to name just a few. Attorneys should be aware of prohibited transactions and other various types of conflicts, how to waive those conflicts, and avoid issues stemming from conflicts and prohibited transactions.

Client consent can resolve many conflicts. However, the effectiveness of conflict waivers can vary, depending on the nature of the conflict, the timing of the waiver request, and whether the client is a current or former client. Conflicts must be anticipated and addressed in engagement letters.

Listen as our panel of attorneys experienced in ethics issues discusses how to identify potential conflicts and prohibited transaction issues and outlines best practices for avoiding or resolving those conflicts.

Outline

I. Identifying sources for potential conflicts of interest

A. Defining the client

B. Defining the adversity that triggers conflict rules

C. Adverse client conflict—direct adversity or adverse representation

D. Joint representation—dual or concurrent representation

E. Adversity to former clients

F. Personal conflicts of interest

II. Prohibited transactions

A. Applicable rules

B. Availability of waiver

III. Conflict resolution

A. Withdrawal from representation

B. Client consent

C. Conflict waivers

D. Engagement letters

E. Law firm conflicts checks

Benefits

The panel will review these and other key issues:

  • What are some best practices for law firm conflict avoidance procedures?
  • Under what circumstances will a conflict prevent representation?
  • How can engagement letters effectively limit potential conflicts?
  • What critical language should be included in a conflicts waiver document?
  • What are the applicable rules governing prohibited transactions?
  • Under what circumstances are conflict waivers non-permissible?