Abstract
This Article has suggested that attorney conflicts of interest can impact the representation that even sophisticated clients like Lehman receive. Although Sullivan undoubtedly attempted to represent Lehman to the best of its ability and may have not violated any disciplinary rules in representing Lehman, Sullivan’s ability to act in the best interests of Lehman and achieve the bank’s objectives was frustrated by its close relationships with Merrill and Barclays, as well as its desire to maintain its strong reputation among Treasury and Federal Reserve officials. The history of Sullivan’s representation of Lehman during the financial crisis illustrates that technical compliance with conflict of interest rules does not ensure that a client’s interests will be protected, regardless of the sophistication of the client and the lawyers providing the representation.
Recommended Citation
Markovic, Milan
(2012)
"The Sophisticates: Conflicted Representation and the Lehman Bankruptcy,"
Utah Law Review: Vol. 2012:
No.
2, Article 9.
Available at:
https://dc.law.utah.edu/ulr/vol2012/iss2/9