Attorney gave out information about us. Malpractice?

[Bella123]

What is the name of your state? TN
My husband and I feel betrayed. We fell on hard times with our business and were having trouble making its bills. We sold some of our personal real estate to put cash into the business. A senior partner at the law firm told one of our business creditors exactly how much money we would be receiving the day before our closing. It was a bank where he is a stock holder. That bank left several threating messages that an attorney was on stand-by to get that money if we did not turn it over after closing. Confused, scared, embarrassed by the situation we were in, we handed it over to the bank.

When we confronted our attorney immediately after closing, he said it was public information. How was it public before closing? Would this be malpactrice?What is the name of your state?What is the name of your state?

[las365]

What sort of loan do you have from the bank? Pursuant to your loan agreement, did the bank conceivably have a security interest in the property you sold?

When you hired the attorney, did you discuss with him your entire situation including who your creditors are? Did he disclose to you at that time that he was a stockholder of one of your creditors?

Sometimes attorneys have a duty to make sure that a lien or assignment of interest is satisfied and can get in trouble if a client gets all of the money from a settlement or sale if the attorney knows of a lien against the money.

[Bella123]

I failed to mention...The real estate transaction was closing at this law firm. They handled all of our real estate closings, personal and business. This senior attorney had represented us for years too.

[Bella123]

The bank had no lien on the property sold. It was not used to guarantee the loan. It was a business loan that my husband and I has personally signed for. We had no idea the attorney was on the board. He never disclosed it.