Is Anyone Safe?

Is Anyone Safe?

While an attorney may believe he is fulfilling his professional duty by assisting a corporate client in effectuating a financial transaction, if such transaction is ultimately found to be a fraudulent transfer or a breach of the fiduciary duties of one or more of the corporate client's principals, the attorney who counseled the client on such transaction could find him- or herself liable for aiding and abetting a deepening insolvency.

24 minute read October 28, 2008 at 11:35 AM

Deborah J. Piazza And Jennifer Rando

In these troubled times, attorneys, accountants and other professionals must be very careful in counseling clients that may be in the zone of insolvency.

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