(analyzing privilege choice of law issues, and ultimately concluding that UBS was inside privilege protection as a client consultant, although citing Kovel, because UBS's assistance was "indispensable" to the provision of legal advice (citing and quoting other cases); "A 'representative of a client' is defined in Louisiana Code of Evidence, article 506, as '[a] person having authority to obtain professional legal services, or to act on advice so obtained, on behalf of the client' or '[a]ny other person who makes or receives a confidential communication for the purpose of effectuating legal representation for the client, while acting in the scope of employment for the client.' Here, the Citco Defendants have asserted various communications between themselves, UBS employees, and Linklaters (Citco's counsel) are privileged because UBS was a representative of Citco 'and had authority to obtain professional legal services and to act on advice so obtained on behalf of Citco.' The burden of establishing that these communications are subject to the attorney-client privilege lies with the Citco Defendants, the party asserting the privilege."; "The Fifth Circuit has cited Kovel with approval in the context of a case applying the federal common law of attorney-client privilege, and courts in this Circuit have relied on Kovel when determining whether communications with third parties are privileged. Following these principles, other courts have found that communications with third-party financial advisors or investment bankers are protected by the attorney-client privilege where such communications were indispensable to the provision of the attorney's legal advice."; "Crane Security Technologies v. Rolling Optics, Civil Action No. 14-12428, 230 F. Supp. 3d 10, 22-26 (D. Mass. Feb. 3, 2017) (where plaintiff engaged financial services firm 'specifically' to assist in acquiring certain patents, and plaintiff's outside counsel communicated with financial services firm regarding the drafting and negotiating of the acquisition agreements, the court found the communications to be privileged because the communications were intended to remain confidential, review of the documents indicated that attorney asked financial services firm 'for help crafting legal advice,' and attorney averred in a declaration that legal advice was shared with financial services firm when 'necessary to accomplish' the legal advice and that his practice was to collaborate confidentially with third-party financial advisors on significant corporate transactions); In re Piedmont Office Realty Trust Inc. Securities Litigation, Civil Action No. 1:07-cv-02660, 2011 WL 13169494, at *2-4 (N.D. Ga. Oct. 27, 2011) (communications with investment bankers and other financial advisors privileged where a review of the documents at issue revealed that client's attorney 'relied upon the observations and experience of these third parties in evaluating the propriety, accuracy, and materiality of the disclosure [client] was to make in its public communications and SEC filings' and the communications 'were sent for a predominately legal purpose and with an expectation of confidentiality.'); Blau v. Harrison (In re JP Morgan Chase & Co. Sec. Litig.), MDL No. 1783, 06 C 4674, 2007 U.S. Dist. LEXIS 60095, 2007 WL 2363311, at *7-8 (N.D. Ill. Aug. 13, 2007) (where client hired third-party to provide investment advisor services in connection with a merger, communications with third party investment advisor protected by attorney-client privilege); Stafford Trading, Inc. v. Lovely, No. 05-C-4868, 2007 U.S. Dist. LEXIS 13062, 2007 WL 611252 at *7 (N.D. Ill. Feb. 22, 2007) (where plaintiff and other Stafford-owned entities retained investment banker Goldman Sachs ('GS') to locate potential purchasers for Stafford and to assist in facilitating the transaction, and GS was 'heavily involved' in negotiations between Stafford and a potential purchaser, privilege extended only to those documents (considered on a document by document basis) reflecting communications where 'GS confidentially communicated with [client's outside counsel] or Stafford's in-house counsel for the purpose of obtaining or providing legal advice.'); Calvin Klein Trademark Trust v. Wachner, No 00, Civ. 4052, 124 F. Supp. 2d 207 (S.D.N.Y. Dec. 20, 2000) (communications privileged notwithstanding the participation of investment bankers because investment bankers' role 'involved rendering expert advice as to what a reasonable business person would consider 'material'" and 'a responsible law firm . . . would not be able to adequately resolve [the question of materially] without the benefit of an investment banker's expert assessment of which facts were 'material' from a business person's perspective.'"; "Per the engagement letter between Citco Trading and UBS, UBS was to provide the following 'financial advice and assistance' with respect to a potential sale transaction involving Richcourt and a third party."; "As evidence of the roles served by UBS, the Citco Defendants submit a Declaration from Citco Groups' General Counsel, Mr. Braham, wherein he asserts that Citco Trading retained Linklaters 'to provide legal advice on the sale of Richcourt' and retained UBS 'to, among other things, conduct the sale of Richcourt Holding and to provide Citco Trading and Citco Group with advice regarding that transaction.' Mr. Braham avers that UBS's role 'was to conduct an auction process for the sale of the Richcourt group of companies, assess the bids that were received by prospective purchasers and provide recommendations on those bids, and assist Citco Group's in-house and outside counsel in negotiating a purchase agreement with the ultimate purchaser.'"; "Per the terms of the engagement letter and Mr. Braham's Declaration, UBS was retained by Citco Trading to provide various services. Some of these services – specifically with respect to developing and contacting potential purchasers, and preparing and circulating sales documentation – do not appear to be focused on providing services necessary for the rendering of legal, rather than business, advice. However, other services (i.e., assisting in the negotiation of the terms of the transaction) may fairly be within the scope of that necessary for Linklaters to provide legal advice to Citco Trading. The Citco Defendants concede that certain communications with UBS do not fall within the scope of the privilege, and explain that they have 'produced several thousand communications involving UBS where UBS was in fact providing routine business advice or was 'merely copied.' However, with respect to the withheld UBS Documents, the Citco Defendants assert that these 'communications involve UBS working hand-in-hand with Linklaters and in-house counsel to provide legal advice to Citco Group.' The detailed descriptions set forth on the Citco Defendants' privilege log reflect that the withheld communications were primarily for the purpose of obtaining or rendering legal advice.")
Case Date |
Jurisdiction |
State |
Cite Checked |
2018-05-22 |
Federal |
LA |
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