Previous CEL Events
- Launch Event - Risk & Regulation: Regulation and the social meaning of risk
- Ethical performance of business – achievements, aspirations and expectations
- Business reputation - ethics in the downturn
- Expertise in Ethics & Risk Regulation
- Inaugural AstraZeneca Think Tank Debate
- The Governance of Autonomous Systems
- Second Annual Lecture: The Moral Limits of Markets
- Perception and Reality: The Compensation Culture
- Performance vs. Compliance: A Global Leader's Guide to Managing Business Conduct
- Tweeting to Topple Tyranny: Social Media, corporate Social Responsibility & Human Rights
- Shareholder Engagement in the Embedded Business Corporation: Investment Activism, Human Rights and TWAIL Discourse
- Conflicts of Interest: A mere governance challenge or a moral maze?
- Humans vs. Robots: Where are the limits of what an autonomous system should do?
- CEL Annual Lecture 2012: Media Freedoms & Media Standards
- Between Law and Markets: Is there a Role for Ethics and Culture in Financial Regulation?
- Handling Problem Projects - Accountability mechanisms at international financial institutions and case studies
- Lehman Brothers and the Lawyers: (When) Are Lawyers Ethically Responsible for Client Wrongs?
- Workshop on the Financial Sustainability of Banks
- Think Tank with Andrew Bailey
- Experiencing and Teaching Ethical Problems
- CEL Think Tank with the Legal Ombudsman
- Debate with Lexis-Nexis - Legal Innovation: How should the Educators respond?
- Business and Human Rights - Student Seminar
Lehman Brothers and the Lawyers: (When) Are Lawyers Ethically Responsible for Client Wrongs?
Publication date: Oct 5, 2012 3:05:00 PM
Jan 30, 2013 6:00:00 PM
End: Jan 30, 2013 7:30:00 PM
Location: Gustave Tuck LT, UCL, Gower Street, London, WC1E 6BT
- Professor David Kershaw, LSE
- Professor Richard Moorhead, UCL
- Professor Joan Loughrey, University of Leeds
- Chris Perrin, Clifford Chance LLP
Chaired by Antony Townsend (Chief Executive, Solicitors' Regulation Authority , Solicitors' Regulation Authority)
About the 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.
- Event Commentary by Luke Price
- Consequential Responsibility for Client Wrongs: Lehman Brothers and the Regulation of the Legal Profession by David Kershaw and Richard Moorhead
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