Significant financial interest of an Advisor
I acted as an advisor for a company and now, a legal dispute has arisen and as a part of it, it has been argued that I have a significant financial interest in the company debarring me from representing the company. Is such an argument true? Can advisory services be commercial in nature, leading to one having significant financial interest?
Answer 1
Firstly, advisory services can't be considered to be commercial in nature because 'commercial' means some form of a trading activity where goods and services are bought or sold. Even if they are inded construed to be commercial in nature in your case, you've stated that you merely acted as an advisor in the past which means there is no relationship with the company. Therefore, you must not be barred from representing the company. However, depending on the exact nature of the advisory role and your general relationship with the firm, a case can be made for barring. It all boils down to the facts of the case.
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