for hedge fund accidents
Lawyers are more used to conducting litigation than being
its target. But this is changing, as hedge funds lash out at
the legal representatives giving them bad advice. As a session
at the IBA conference in Singapore last month on the role of
hedge funds in financial restructurings heard, counsel is
increasingly being accused when investments go wrong.
"People involved in hedge funds are very careful and very
savvy about reading documents, so it's not surprising. No one
likes to be blamed," said Giovanni Prezioso of Cleary Gottlieb
Steen & Hamilton's Washington DC office.