Would-level opinion

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“Would level” is the strongest degree of assurance that an attorney can provide when opining on bankruptcy matters.

—Legal isolation of transferred financial assets, PWC Viewpoint

is meant to mean one has the highest possible degree of comfort things won’t go wrong, and therefore one won’t be fired, but over time and the vicissitudes of normal market practice, worn smooth by years of gentle polishing by the vicuña twill that houses a million well-heeled posteriors means, definitively, one will not be fired if things go wrong. It is plausible deniablility. It is evidence of due diligence, res ipsa loquitur.