Reading Skills

Exercise 10

Interview with a Finance Lawyer

(Interviewer – I; Mr. Stewart – financial attorney – M.S.)

Read the following dialogue in pairs. Switch the roles.

I.	Let me introduce Mr. Andrew Stewart, an attorney who specializes in the world of money and banking. As I understand finance lawyers work for a bank or any other financial institution. Can you tell us what organization do you work for?
M.S	I work for a law firm, and our practice areas mainly include financial matters. We advise our clients on a wide range of issues: loans, leasing, investments, stock trading and bankruptcy.
I	I see. And who are your clients Mr. Stewart?
M.S	Well, we represent individuals and legal entities. Our clients are people or businesses that intend to borrow or lend money, put the money into some project so that to make profit, buy or sell securities, those who intend to rent valuable equipment or find good premises for the office, or those who have failed to run the business and are losing money.
I.	Now, if I want to make a loan at a bank, how exactly can you help here?
M.S.	Firstly, we’ll offer you a reliable bank and advise you on the subject of loan options. We’ll prepare the necessary documents and represent you at negotiations with the bank.
I	And why should I follow your advice?
M.S.	You see, we know the laws that govern banking activities, and we usually are aware of the banks that observe these laws. Moreover, finance lawyers can deal with the client’s capital management. So, if you are going to make an investment we’ll research the possibilities and estimate the risks.
I	What about stock market transactions? Buying securities is also a kind of investment….
M.S.	If you trade at the stock exchange, you are our welcome client. We follow the stock market trends, know the rates so we’ll counsel you on the best transaction.
I.	Great! And can you help my business out of debt?
M.S.	Sure. There are certain laws that regulate the procedure of bankruptcy. We provide expertise of your business status, draft documents, deal with your creditors and regulatory bodies, find solutions either to save your business or to mitigate the effects of bankruptcy.
I.	That really sounds encouraging! You’ve mentioned litigation. Does it mean that your firm lawyers can represent a client in court?
M.S.	Absolutely. Our clients may sue or be sued for any financial issue, so we do most of the job – draft claims, motions, collect information, prepare documents. Our client can be a bank or financial institution, and they also may file a lawsuit that concerns a monetary debt or fraud, for example. We act for them in court.
I.	So I see that lawyers practicing in the area of finance are also both competent advisors and expert advocates. Thank you, Mr. Stewart, for coming here.
M.S.	My pleasure.

Tasks

1. Scan the text and highlight (underline) the words and phrases that refer to financial matters.

2. The chart below will summarize the financial matters the lawyer deals with and the activities and services relevant (corresponding) to these matters. Complete the chart with the phrases from the dialogue. The first line is done for you.

Finance matter	Relevant activity	Relevant service
Loan	borrow or lend money	offer reliable bank; prepare documents, negotiate with the bank
Leasing
Investments
stock trading
Bankruptcy

3. Prepare a text about the Finance lawyer job. You are free to add more information about the lawyer’s responsibilities.

Exercise 11

In-house Counsel

Read the text and role-play an interview with the counsel.

I am a company lawyer, or in-house counsel. The company I work for is not very big, we manufacture pastries and cakes and distribute them to cafes and chocolate bars.

My responsibility is the legal support of the whole business and legal advice to my employers and staff.

I am always with the managers when the company is negotiating a deal. Then I draft the contract and meet with the lawyer of the client to discuss the subject matter and other details.

At some company meetings I take part in the discussion of the issues that need legal competence.

I am aware of the company’s financial affairs and plan the taxes the company pays. The chief accountant and I file the company’s tax return because it’s a serious matter.

Sometimes things go wrong. For example, our clients file a claim against us and want to bring an action. They are going to sue us for bad quality. That means that I must look into the case, find out if there really has been an act of damaged goods delivery and prepare for litigation. In lawcourt I act and speak for my company. I’ve won some cases.

Our company is expanding, and in a year or so there will be a legal department with three lawyers.

Legal Practice

Exercise 12 In Russia we also have a great number of legal professionals. Make a brief report about legal and law-related professions in Russia. Speak about the responsibilities and place of work.

UNIT II

LAW FIRM

Word Building

Exercise 1

Place the following nouns into appropriate column of the chart to make a collocation

practice; services; firm; advice; matters; report; office; needs; dispute; case;

representation; issue; community; decision; expertise;

Legal	Law
services	firm

Vocabulary Practice

Exercise 2

Complete each verb column with noun or nouns that can go together with this verb.

render	offer	engage in	specialize in	focus on	handle	seek	counsel on	have

cases; advice; reputation; matters; resources; issues; a practice area; services; expertise

Exercise 3

Complete the text with proper verbs using the above chart.

The McIntosh Law Firm 1) ……. various legal services to our clients and the legal and business community. We 2) …… the highest levels of expertise.

The McIntosh Law firm 3) ……. the general practice areas of law. The attorneys attorneys 4) ………. bankruptcy, business law, collections, litigation, personal injury, wills, trusts and estate planning. We 5) …… a reputation for prompt, efficient and personal service. Because we are a full service legal firm, our clients do not have to 6) …… legal advice from multiple offices every time they need assistance.

The McIntosh Law Firm attorneys welcome the opportunity to meet with you to discuss your particular legal needs and 7) ……. different issues.

From The McIntosh Law Firm’s early days, its primary focus has been its clients.

We 8) ……. Corporate and Business law. The lawyers also deal with Bankruptcy and Real Estate matters. The Litigation Team also 9) …… General Litigation cases