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An article by Susan Beck in the New York Law Journal takes a look at the role of lawyers in the events leading to BNP Paribas’s $8.9bn settlement with the US Department of Justice (DoJ). The DoJ’s statement of facts filed with the plea deals discusses law firm opinions: one set from ‘Law Firm 1′ (Beck indicates this is probably Cleary Gottlieb Steen & Hamilton) and one opinion from ‘Law Firm 2′, identified by the article as Skadden Arps Slate Meagher & Flom; although neither firm has commented. The case is redolent of Standard Chartered Bank (where it is probably the role of general counsel, not outside counsel, which gives rise to most concern).

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