Watching Trey Gowdy, he stated that the best way of getting out of discussing your legal matters is to have a lawyer sitting on the board for your bank. If there's questions to be answered by you for instance, you can just assert attorney client privilege (banker has working relations with attorney on staff and that would narrow the scope of question that could be requested to answer.)
How was that?
That is why it is frowned upon to have the same attorney as a board member on your company board.
That is why it is frowned upon to have the same attorney as a board member on your company board.
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