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Taking the decision to let the dust settle before weighing in on the latest controversy over alleged conflicts of interest is something of a double-edged sword. On the one hand, it gave us the chance in today’s issue of Legal Week to take a considered view on the much-debated position of Freshfields Bruckhaus Deringer and Allen & Overy (A&O) in the Northern Rock saga. On the other hand, it means we’ve had time to read the conflicts rules again, which is about as stimulating as watching paint dry. Grey paint.

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