In the Heat of Dealmaking, Beware of Waiving Attorney-Client Privilege

Litigators are very attuned to the questions presented by attorney-client privilege. Deal lawyers may not be as attuned. Let’s say you are locked in a hot and heavy battle to rescue a distressed company or broken deal. One party has defaulted or is on the verge of defaulting, default notices have been fired across the bows, and everyone is exploring how best to gain an advantage as the project or company proceeds towards restructuring. Your client is attempting to build a coalition of investors or at least parties with a commonly shared interest in order to accomplish this restructuring.