Paul Weiss Must Pony Up Privileged Docs On Defunct Med Co.
By Aebra Coe (October 1, 2015, 7:47 PM EDT) -- Paul Weiss Rifkind Wharton & Garrison LLP must give the liquidator scrutinizing an alleged $355 million fraud at China Medical Technologies Inc. privileged information from an internal investigation the firm oversaw for the bankrupt medical device maker, a New York federal judge ruled Wednesday.
U.S. District Judge Ronnie Abrams said that while audit committees play a critical role in monitoring corporate management and a corporation's auditor prebankruptcy, the justifications for protected attorney-client communications "dissipate in bankruptcy." She reversed a bankruptcy court judgment that barred liquidator Kenneth Krys' from obtaining privileged documents concerning Paul Weiss' representation of China Medical's audit committee....
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