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Navigating Lawyer, Client, and Environmental Consultant Dynamics in Due Diligence

Learn how to manage the relationship between lawyer, client, and environmental consultant during transactional due diligence processes. Understand key factors such as deadlines, objectives, team dynamics, and handling unexpected situations. Discover the importance of building a cohesive team, setting appropriate scopes, and staying responsive to client needs. Gain insights on materiality levels, conflicts resolution, confidential maintenance, technical pressures, and benefits of diligence. Enhance communication and collaboration for successful outcomes.

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Navigating Lawyer, Client, and Environmental Consultant Dynamics in Due Diligence

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  1. THE RELATIONSHIP BETWEEN LAWYER, CLIENT AND ENVIRONMENTAL CONSULTANT IN TRANSACTIONAL DUE DILIGENCEmarch 8, 2013presented by doug cloud, m2c2lawPete Capponi, gaiatech

  2. Each Deal is Unique But, a Few Common Denominators. • Need good understanding of client’s: • deadlines (set milestones, regular contact); • short & long-term objectives (exit strategy). • Know your client team members, other parties. • Set appropriate scope. • Anticipate mechanism for handling unexpected • Technical,cost,schedule.

  3. It’s A Team Effort • Build a team with participants that respect one another and communicate well. • Qualified for scope. • Keep client’s objectives in mind. • Flexibility; ability to react. • Responsiveness.

  4. Top 10 List “A man's GOT to know his limitations.” Harry Callahan.

  5. #1. Legal Consultant? • Environmental consultant as legal advisor. • Unauthorized practice of law. • Environmental lawyer as technical advisor. • Team work is everything!

  6. #2. Setting Materiality Levels, Expectations “The one that should have got away.”

  7. #3 thru #6 • Ignoring Conflicts • Re-dealing common, especially in Private Equity. • Competitive market pressures on “Strategics” • Maintaining Confidentiality (contacts, disclosure) • Site visits and contacts • Technical pressures on details (estimates, regulatory agencies) • Endgame (Cost-to Cure Tools) • Benefits of Sale-Side Diligence • Issue ID and resolution; Data Room value (EMS)

  8. #6 thru #10 • Access Agreements; Release Reporting • Revising Reports • Communication • Document Control • Bargain Basement, Reduced Scope Phase I • “Get what you pay for” • Compliance review capabilities • Professionalism

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