.png)
Conflicts of Interests
A conflict of interests is a situation where there exists a risk that one’s professional loyalty, conduct or judgment might be impaired by another (conflicting) interest.
Such conflicts may arise especially:
- between the interests of two different clients of Firm;
- between the interests of Firm and the interests of a client; or
- between the interests of a particular Firm team member on one side and the interests of Firm or the client on the other.
It is important to note that no real or pending conflict is required in order for the respective rules to be triggered. The mere possibility of such a conflict is sufficient.
General Rules
We acknowledge that avoiding conflicts of interests is a sine qua non condition for the proper provision of professional and especially legal services. Therefore, in regards to our clients and their transactions, FIRM uses a sophisticated procedure involving the Managing Partner, LMBs, and other senior staff to identify possible conflicts of interests and to duly evaluate them. If a conflict of interests is ascertained, either the whole Firm or individual members of our team are excluded (in one or more jurisdictions) from any participation on the transaction in question.
Obligation to Report
Every team member is required to promptly declare his or her conflict of interests and to report it immediately to the respective BODs or directly to the Managing Partner. Such a team member must refrain from any further action unless there is a risk of delay and there is no sufficient time frame to hand the matter over to another team member.
Economic Conflicts of Interests
In some cases, our clients require that we do not work for their direct competitor(s) even if no real conflict of interests exists or may arise. The Managing Partner may decide that we honor such a request, in which case we decline the representation of their direct competition.
Political and Other Public Activities
While we respect the civil rights of our team members, the exercise of such rights within any political or other public activity is to be notified to the EC Officer, if it could cause third parties to question our independence or commitments arising from the conflicts of interest rules.