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Dewey's Sharp hits out at stricken firm's US management

Peter was head of the UK LLP, and is an English solicitor regulated by the SRA. As such, he owned the usual duties to the UK LLP and its creditors as a director, fiduciary duties to the other members of the UK LLP, and was obliged to comply with SRA regulations. It is surely not the case that he considered himself hamstrung by what New York wanted him to do. The discharge of his duties to the UK LLP, its other partners and the SRA would presumably have required him to exercise a lot more independent judgment than just relying on instructions (or lack of instructions) from New York. It seems lame to try to excuse his conduct on the ground that New York failed to tell him what to do. Was he the managing partner, or not? We have lived though Emile Heskey, the non-scoring centre-forward, now do we have Peter Sharp, the non-managing managing partner? Sign him up as your assistant for the Euros now, Roy.

28-May-2012

3:01 pm