Posted by Cheryl on 7/28/03

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Is it ethical for a partner (5%) in an LLC & LP (which is
supposed to be manager managed) to instigate the "firing"
of the attorney who was hired to Form the LP and to prepare
the limited partnership agreement and the regulations. The
attorney who was retained was just hired in July of this
year. He has formed the LLC, converted the initial LLC to
an LP and the partnership agreement and regulations would
be completed by the end of August. The 5% partner and
attorney who instigated the firing of the initial attorney
is now planning on taking over preparation of the above
documents. I have been told that it's a conflict of
interest for the initial attorney to do work for the LLC &
LP and also represent two of the members in estate
planning. I think it's a conflict of interest for a
limited partner to instigate the "firing" of the initial
attorney so that he can prepare the documents himself.
This seems like a conflict of interest to me. Opinions
please!

conflict of interest, 7/28/03, by Cheryl.

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