How we supervise independent lawyers in 2021
Challenging engagements often require the assistance of lawyers to i) issue legal opinions ii) draft regulatory documentation and iii) advise re legally required licenses, permits and approvals. To ensure such deliverables are timely and efficiently supplied by the lawyers, Healy Consultants Group PLC will help our Clients to complete all of the following:
- Choose the optimum independent Law firm – the most practical, cooperative, qualified, experienced, and low cost one;
- Detail-explain to the lawyers the business plan and expected transactions and corporate structure of our Client;
- Prepare a detailed project plan with the lawyers, including scope, procedures and timelines;
- Negotiate with the lawyers to secure the optimal terms and conditions for our Client;
- Ensure the lawyers’ team is adequately staffed with experienced partners;
- Review the first draft of the legal opinion supplied by the lawyers to ensure the final opinion will include detailed, complete information required by our Client;
- Negotiate with the independent lawyers to ensure they supply legal solutions oriented strategies rather than a list of what’s not legally permitted;
- Control the flow of communication; including shield our Client from mundane insignificant daily queries, and facilitating communication between lawyers and our Client;
- Minimize deliverables completion time. Securing a refund of law fees for our Client in the unlikely case there are unexpected unexplained delays;
- Before we secure a final quote from the independent statutory lawyers, Healy Consultants Group PLC will collect KYC documents from our Client and prepare a business plan for our Client approval. We will organize the files in logical order and supply them to our Client. During fee negotiations, we will show the lawyers accurate and complete files for their easy review. We will supply them information organized in a manner they are used to; with adequate explanations. This will help secure a low-cost regulatory advise and minimize engagement time.
Healy Consultants Group PLC supervision fee is a prediction of the fees required to efficiently and effectively supervise the lawyers engagement. If during the engagement such supervision is significantly more complex than anticipated, requiring a large additional investment of time, we will revert to our Client to request additional fees;
Alternatively, if the law Firm completes the engagement faster and more easily than expected, Healy Consultants will be happy to refund a portion of our supervision fees to our Client.