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{{A|people|}}One of the sainted [[risk controller]] functions of a financial services firm, the [[litigation]] department deals with | {{A|people|}}One of the sainted [[risk controller]] functions of a financial services firm, the [[litigation]] department deals with customer claims, where the firm has disappointed expectations, and prosecutes the firm’s own ones, where its clients have. | ||
In a well-run firm, therefore, you might expect | In a well-run firm, therefore, you might expect [[litigation]] to be an unglamorous backwater, and this is how it used to be. | ||
But | But, after the dislocations of recent times, many a [[litigation department]] has, like [[human resources]], come to resemble some kind of [[military-industrial complex]]. Teams have gone from half a junior lawyer, on flexi-time, between spells of maternity leave, to fully weaponised Death Stars of fusty, censorious [[Mediocre lawyer|solicitors]] who will decline to make any call, however safe, or sanction any risk, however remote. | ||
But as the world shakes off the malignities of the last decade; as the business environs drift back to the benign, the pendulum might at last be falling back. So, to keep themselves in silk in times of fair fortune, {{t|litigation}} teams have invented an ''advisory'' function. They encourage their colleagues to consult them, ahead of time, to avoid future angst. They have contrived “risk radars” from a sixth sense that has proven so far elusive, and “[[Risk taxonomy|risk taxonomies]]”, by which they subdivide the [[future]] by reference to their bitter experiences of the past — all this despite their own admonitions [[Past results are no guarantee of future performance|not to regard it as any kind of guide to what is yet to come]]. | |||
So “litigation advisory” is a theoretical but not actual function, because no-one in their right mind would ask a litigation lawyer to bless any course of action more contentious than sitting cross-legged in an air-conditioned padded cubicle having first signed a lengthy [[disclaimer]]. Signing off hypothetical risk scenarios in the abstract is just not how [[litigator]]s roll. They are are short the same option as is any [[risk controller]]: there is no upside from signing off any [[risk]] that has not been fully diffused in a [[circle of escalation]], underwritten in blood by someone else (such as a [[Sullivan and Cromwell]] partner)<ref>Who, thanks to a crafty assumption on page 73 of its [[legal opinion]] ''won’t have underwritten it at all.</ref> and [[socialise|socialised]] to the [[General Counsel]]. | |||
Nor are litigation lawyers any better a source of advice about contract drafting than trauma ward surgeons are about motor vehicle engineering. For, what better insight can a [[litigator]] give than, “for Christ’s sake, don’t wind up in court?” What commercial draftsperson didn’t know that? | Nor are litigation lawyers any better a source of advice about contract drafting than trauma ward surgeons are about motor vehicle engineering. For, what better insight can a [[litigator]] give than, “for Christ’s sake, don’t wind up in court?” What commercial draftsperson didn’t know that? | ||
For if you ''do'' wind up in court, hasn’t your contractual architecture ''already'' failed you utterly? To be sure, it might be a nice surprise to find the deckchair to which you are clinging floats, but how much nicer would it be were it still sitting on the sun-deck of | For if you ''do'' wind up in court, hasn’t your contractual architecture ''already'' failed you utterly? To be sure, it might be a nice surprise to find the deckchair to which you are clinging floats, even as the ship whose name is stencilled on it descends to a watery tomb a mile below you, but how much ''nicer'' would it be were it still sitting on the sun-deck of that very vessel, still steaming contentedly towards the New World? | ||
[[Contract]] design should ''avoid'' icebergs. A litigator can only help sort out whose fault it was that one has been hit. | |||
{{sa}} | {{sa}} |