It is virtually a given in all but the smallest Chapter 11 bankruptcies that financial advisers and/or investment bankers will be retained to assist in the representation of the debtor or any official committee.
Beware: Not All Communications Between Court-Appointed Bankruptcy Professionals Are Privileged
A successful Chapter 11 representation requires a close working relationship between the client's attorneys and non-attorney professionals, and the latter are generally kept fully abreast of the attorney's strategies on behalf of their common client. But where a communication otherwise protected by the attorney-client privilege is disclosed to, or made in the presence of a third party, the communication may no longer be, or deemed never to have been considered privileged.
By
Norman N. Kinel And Terence D. WatsonThis premium content is locked for The Bankruptcy Strategist subscribers only
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