Anthony Davis Quoted in Law360 Article Addressing the Demand for Indemnity Provisions
Anthony Davis was recently quoted in the article "BigLaw Losing Fight Over Indemnity In Counsel Guidelines" published by Law360. The article reviews the growing trend of including indemnity provisions in outside counsel guidelines ("OCGs"), and summarizes a panel discussion at the Spring 2017 National Legal Malpractice Conference in Boston.
Davis, who was a member of the panel, noted that a clear picture has not yet emerged of all of the risks to law firms if they agree to these indemnity agreements, even as they have become a common feature of OCGs. The one court ruling regarding the enforceability of a firm indemnity agreement that has been issued went against the firm. "We're talking about provisions covering any [client] loss arising from your representation, even if there was never any negligence," Davis said. "It's really, really scary, and it's something all the big firms are being forced to deal with."
Read the full article "BigLaw Losing Fight Over Indemnity In Counsel Guidelines" on the Law360 website (subscription required)