Informal Opinion Number: 950071
Reference Note: Effective July 1, 2016, subdivision 4-1.15(f) of Rule 4 was repealed and a new subdivision 4-1.15(f) adopted in lieu thereof. This opinion is based on Rule 4-1.15 in effect prior to that date.
Reference Note: Rule 4-1.15 was amended, effective July 1, 2013. This opinion is based on the rule in effect prior to that date. Please see the July 1, 2013 version of Rule 4-1.15(e).
QUESTION: Attorney represents a client in a case that has been resolved through arbitration. A company claims that a portion of the award was for that company. Attorney is holding the disputed amount in Attorney´s trust account. What should Attorney do? ANSWER: Once a reasonable time for the various parties to resolve their dispute over the money has passed, Attorney has no option other than to interplead the funds. Perhaps when the disputing parties are advised of this fact and that the costs associated with the interpleader will use a significant portion of the funds, they will be able to resolve the dispute.
Informal Opinions are ethics advisory opinions issued by the Office of Legal Ethics Counsel to members of the Bar about Rule 4 (Rules of Professional Conduct), Rule 5 (Complaints and Proceedings Thereon), and Rule 6 (Fees to Practice Law) pursuant to Missouri Supreme Court Rule 5.30(c). Written summaries of select Informal Opinions are published for informational purposes as determined by the Advisory Committee of the Supreme Court of Missouri pursuant to Rule 5.30(c). Informal opinion summaries are advisory in nature and are not binding. These opinions are published as an educational service and do not constitute legal advice.
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