NO CLE - Disclosure? We Don’t Need No Stinking Disclosure! Rule 2014 and Ethical Conflicts of Interest

Once again, dear fans, Boris Badenough is involved in a hot chapter 11 case — this time involving Time & Lord, the owner of a failed movie franchise, “Fat Contests” (based on the book of the same name about an eat-to-the-death contest involving ordinary citizens in a future ruled by junk-food companies). Boris’s wife, Sophia, has been retained by Dallick Capital, the debtor’s investment banker, to handle the sale of the debtor’s intellectual property. However, Tardis Industries, a potential purchaser and creditor, has a problem with Dallick’s disclosure related to Sophia in its employment application. Further, the debtor’s lead counsel, Ciber & Mann PSC, may also have some disclosure issues as one of Boris’ subsidiaries, Master Industries, is one of their clients — and Boris is now interested in buying the debtor’s intellectual property. Will Sophia remain true to her fiduciary duty to her client, or will she give Boris the deal of the century, and will everyone give disclosure a chance?

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