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Protecting liquidators’ privilege

Can liquidators disclose legal advice to creditors without waiving privilege? Common interest privilege may assist.

Common interest privilege

Legal professional privilege protects communications between a lawyer and client created for the dominant purpose of seeking or providing legal advice or for current or anticipated litigation.

If advice is disclosed to third parties, there may be a waiver of that privilege.

Australia, Insolvency & Restructuring, Legal Practice, Litigation, Johnson Winter Slattery, Waiver, Interest, Discovery, Liquidator (law)
Revised form of Rule 2019 eliminates purchase price disclosures by committee members

In chapter 11 bankruptcy cases, creditors and equity holders with common interests often find it advantageous to pool resources and form an ad hoc group or committee. Because the committee represents a larger amount of claims or interests, it speaks with more authority in the bankruptcy case, and the members are able to save money by sharing the cost of legal and financial advisors.

USA, Insolvency & Restructuring, Litigation, Ropes & Gray LLP, Bankruptcy, Security (finance), Interest, Discovery, Option (finance), Hedge funds, Economy, US Congress, Supreme Court of the United States, United States bankruptcy court