Alternative Proposed 2013 FEO 14: Representation of Parties to a Commercial Real Estate Loan Closing
View proposed ethics opinion in full here
This alternative to 2013 Formal Ethics Opinion 14 would restrict a lawyer completely from representing both the lender and borrower in a commercial real estate closing. This opinion takes the proposition that there are no instances in which common representation can be consented to in this type of transaction. Citing again to Rule 1.7, the opinion explains that common representation in a commercial real estate closing involves a concurrent conflict of interest that is always nonconsentable. This opinion does not differ with respect to the ruling on Bank’s Counsels.
This opinion was abandoned in favor of 2013 Formal Ethics Opinion 14 on January 23, 2015.