Ponzi Schemes to Bank Robbery- Nontraditional Claims Against Lawyers

1. Ponzi Schemes to Bank Robbery- Nontraditional Claims Against Lawyers

2. The Panel MODERATOR: John L. Slimm, Esq., Shareholder - Marshall, Dennehey, Warner, Coleman & Goggin PANELISTS: • Bruce Elliott, 2nd Vice President, Professional Liability Claims - Travelers Insurance Companies • Jody Harris, ARM, RPLU, Managing Director, Gallagher Law Firm Solutions - Arthur J. Gallagher & Co. • Kim Noble, J.D., Sr. Vice President, Lawyer's & Real Estate Professional Liability – One Beacon Professional Insurance • Bill Thompson, Claims Manager – Monitor Liability Managers, LC

3. PONZI SCHEMES TO BANK ROBBERY—NON TRADITIONAL CLAIMS AGAINST LAWYERS MODERATOR: John L. Slimm, Esq., Shareholder, Marshall Dennehey Warner Coleman Goggin PANELISTS: Bruce D. Elliott, 2nd Vice President, Professional Liability Claims, Travelers Jody Harris, ARM, RPLU, Managing Director, Gallagher Law Firm Solutions, Arthur J. Gallagher & Co. Kim Noble, RPLU, JD, Senior Vice President, Lawyers’ and Real Estate Professional Liability, OneBeacon Professional Insurance William J. Thompson, Claims Manager, Monitor Liability Managers, LLC

4. Broker LPL Claim Advocacy • Application and Coverage Communication • Reporting Issues • Dispute Resolution

5. LPL Application & Coverage Communication Application: • Potential Claim Disclosure Question • Material Misrepresentation on Application Potential Coverage Issues in Today’s Claims: • Fraud & Dishonest Acts Exclusion • Innocent Insured Provisions • Investment Advice Exclusion • RICO Exclusion • Equity Interest Exclusion Communication to Firm Attorneys of Important Policy Provisions…

6. Reporting Issues • Notification of Primary and allExcess Markets (always) • Reporting Claims/Potential Claims – Crucial Policy Provisions • Admission of Liability and Claim Settlement without Carrier Consent

7. Dispute Resolution Broker’s role…. • Denial of Coverage • Reservation of Rights Letters • Threats of Rescission • Adhesion to the Contract • Claim Advocacy

8. PONZI SCHEMES • Investment Losses • The Comparative Negligence Defense • Negligent Misrepresentation Claims • The Continuing Representation Doctrine • Looting the Company • The In Pari Delicto Defense • The Adverse-Interest Exception

9. FRAUD & MISREPRESENTATION CLAIMS • Public Offering Statements • Debtors Claims for Negligent Misrepresentation Against the Trustee's Counsel • Fraud, Civil RICO, and Fiduciary Duty Claims • Breach of Fiduciary Duty Claims Against Attorneys • Investment Losses • Negligent Misrepresentation Claims • The Continuing Representation Doctrine • The Qualified Immunity Doctrine

10. THE LAWYER'S DUTY OF GOOD FAITH & LOYALTY TO THE SHAREHOLDERS • Disbursement of Funds for the Client • Verifying the Client's Instructions • The Attorney's Liability for the Fraud of Others

11. OFFICERS, DIRECTORS & SHAREHOLDER'S CLAIMS FOR DAMAGES TO THE CORPORATION • Where the Lawyer Represents the Corporation, the Client is the Corporation not the Corporation's Constituents • Standing • The Necessity to Prove an Actual Loss • Disregarding The Corporate Form

12. CONSPIRACY CLAIMS • Assisting the Client in Transferring Assets to Defraud the Lender • Liability for Opinion Letters • Claims for Creditor Fraud • The Elements of Conspiracy

13. ERISA CLAIMS • Attorneys and Actuaries are Typically not Considered Fiduciaries under ERISA • Attorneys are not Liable under ERISA on a Fiduciary or Non-Fiduciary Basis

14. THE ATTORNEY'S LIABILITY FOR THE CLIENT'S REPRESENTATIONS • Misstatements in Agreements • Vouching for the Client's Representations • Is the Attorney the Guarantor of the Client's Representation in the Agreement?

15. FAIR DEBT COLLECTION PRACTICES ACT CLAIMS • The Purpose of the Act • Attorneys as Debt Collectors • Debt Collection Letters • The Statute of Limitations • Consumer Fraud Claims Against Attorneys • Reinstatement Notices • The Litigation Privilege • Claims Alleging The Unauthorized Practice of Law • Damages to the Prevailing Party