Goldman Sachs' Conflicts at Center of Kinder-El Paso Deal

March 28 (Bloomberg Law) -- John Reed, partner in the corporate and litigations groups at DLA Piper, talks with Bloomberg Law's Lee Pacchia about a recent decision in Delaware Chancery Court that investment banking firm Goldman Sachs had an 'incomplete and inadequate handling of a conflict of interest' in it's representation of natural gas pipeline operate El Paso in its sale to rival Kinder Morgan. Goldman Sachs stood to gain a fee of $20 million for representing El Paso and also held a $4 billion stake in purchaser, Kinder Morgan. See more +

March 28 (Bloomberg Law) -- John Reed, partner in the corporate and litigations groups at DLA Piper, talks with Bloomberg Law's Lee Pacchia about a recent decision in Delaware Chancery Court that investment banking firm Goldman Sachs had an 'incomplete and inadequate handling of a conflict of interest' in it's representation of natural gas pipeline operate El Paso in its sale to rival Kinder Morgan. Goldman Sachs stood to gain a fee of $20 million for representing El Paso and also held a $4 billion stake in purchaser, Kinder Morgan. Goldman's conflict begs the question; how should investment banks handle conflicts of interest? See less -