At Sherlock & Co. ILA meetings must take place face to face, not over the phone, and be without the presence of anybody else in the transaction involved.
It is not the role of the solicitor to analyse the commercial viability of any transaction the ILA may relate to. Whether or not a client has an appetite for that risk is clearly their personal decision.
There must be sufficient discussion for the solicitor to be sure that the client receiving the ILA understands their legal obligations and, most importantly, what happens if things go wrong.
ILA advice sessions allow the consideration and mitigation of potentially negative outcomes as an insurance while planning for the success or positive expectations that are usually the motivating factor triggering the ILA need in the first place.
For more information, please contact our Clondalkin Office on (01) 4570846
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