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Securities & Exchange Commission v. Credit Bancorp, Ltd.

Citations: 96 F. Supp. 2d 357; 2000 U.S. Dist. LEXIS 6899Docket: 99 CIV. 11395(RWS)

Court: District Court, S.D. New York; May 18, 2000; Federal District Court

Narrative Opinion Summary

In a securities case involving Credit Bancorp, Ltd., the United States District Court for the Southern District of New York addressed whether Richard Blech enjoyed an attorney-client relationship with Kenneth Lynch, the corporation’s general counsel, in his personal capacity. Blech claimed such representation existed, relevant to discussions about his personal assets concerning a contempt order. The court found that Blech did not meet the necessary criteria to establish personal attorney-client privilege. Specifically, Blech could not demonstrate that Lynch was aware of a personal legal representation or that personal legal advice was sought, as Lynch maintained his role was solely corporate. Additionally, the court evaluated the credibility of statements made by Blech's attorney, Sorkin, to the SEC and the court, which Blech later contested. The court upheld that Sorkin acted within his authority, finding his testimony credible and noting that Blech had authorized those statements. Furthermore, Blech's arguments citing United States v. Blau were deemed inapplicable, as no Sixth Amendment right to counsel was implicated at the time. The court deferred ruling on certain issues pending further submissions, allowing Blech to provide additional evidence. The proceedings accounted for Blech's incarceration in France, permitting video testimony to ensure his participation.

Legal Issues Addressed

Attorney-Client Privilege in Corporate Contexts

Application: The court assessed whether Richard Blech could claim attorney-client privilege with Kenneth Lynch, who was Credit Bancorp's general counsel, in his personal capacity.

Reasoning: The court noted that attorney-client privilege in corporate contexts typically belongs to the corporation rather than individual employees.

Authorization of Statements by Legal Counsel

Application: The court found that statements made by Blech's attorney, Sorkin, to the SEC and the court were authorized by Blech, despite Blech's later denial of such authorization.

Reasoning: The court found Sorkin's testimony credible, confirming that Blech did authorize the statements.

Conflict of Interest in Legal Representation

Application: The court concluded that Sorkin, despite representing both Blech and a co-defendant, did not have a conflict of interest adversely affecting his performance.

Reasoning: Sorkin was aware that the statements made on December 3, 1999, would have legal repercussions but maintained that he acted with Blech's authorization.

Establishing Personal Attorney-Client Privilege

Application: Blech failed to establish a personal attorney-client relationship with Lynch as he could not demonstrate seeking personal legal advice or Lynch's acknowledgment of such a request.

Reasoning: The court emphasized that ambiguity does not satisfy the requirement to prove a personal attorney-client relationship.

Sixth Amendment Right to Effective Counsel

Application: Blech's invocation of United States v. Blau was rejected as the Sixth Amendment right to counsel was not applicable to his situation at the time.

Reasoning: Blech's reliance on the case United States v. Blau is misplaced, as it addresses the violation of a defendant's Sixth Amendment right to effective counsel due to a conflict of interest, which was not relevant to Blech's situation in December 1999.