Be fair to lawyers

Lawyering

When I sent my car for repair, I paid a deposit for the mechanic to diagnose the issue. Once the issue was identified, I was provided with a fee quote. After agreeing to the fee quote, I was asked to pay 50% of the charges upfront before any further work was done.

“Fair enough,” I thought. The mechanic had to pay for the replacement parts. If he got the replacement parts from his supplier and I changed my mind about the repair, he would be out of pocket.

In the legal profession, at least in my case, we sometimes face resistance from clients when we request upfront payment. There have been occasions when legal services were rendered, and it took considerable effort to get payments. It’s disheartening, and we’ve learned from these experiences.

I’m reminded of a line from The Authentic Lawyer Manifesto:

We deal with others honestly, fairly, and with integrity and ask others to do the same.”

That’s my hope for the legal profession.

#MalaysianCorporateLawyer

This post first posted on LinkedIn on 27 June 2024.

Linkedin Post
Partial Share Sales in Malaysia: What Sellers Need to Know About Guarantees

In partial disposals, it’s common for sellers and buyers to agree that any existing guarantees given by the sellers to secure banking facilities of the target companies will be adjusted to reflect the post-completion shareholding. For public listed companies (PLCs) in Malaysia, this can affect the deal timeline if not …

Linkedin Post
M&A Break Fees: Practical Constraints in Malaysia

In M&A transactions, break fees refer to a pre-agreed sum payable if a party withdraws from a proposed transaction without any breach by the counterparty. In principle, break fees are intended to deter frivolous exits and to compensate the other party for transaction-related costs, including due diligence and advisory expenses. …

Linkedin Post
M&A Disclosure Letter: DIY or Get a Lawyer?

In M&A transactions, a disclosure letter sets out the exceptions and qualifications to the representations and warranties (R&Ws) given by a seller in a share sale and purchase agreement (SPA). Getting it wrong can turn an unintentional misstatement into a breach of contract, with serious legal and financial consequences. Should …