Peter Robert Dallison has been struck off the roll of barristers and solicitors for serious misconduct, a disciplinary tribunal said today.
The New Zealand Lawyers and Conveyancers Disciplinary Tribunal says Mr Dallison admitted a charge of serious misconduct in relation to a conflict of interest with a client who he lent money to.
In addition to being struck off, Mr Dallison has been ordered to pay compensation of $15,000 to his former client, $11,149 in costs to the Law Society and reimbursement of the tribunal's costs of $2450.
The tribunal said Mr Dallison acted for clients who wished to purchase a property in Auckland but he did not provide them with a letter of engagement or other required information.
He also lent money to the clients through a company in which he and his wife were shareholders.
"Although there was a risk of conflict between his interests and those of his clients, he failed to advise them to obtain independent legal advice," the tribunal said.
"It was later accepted that this was a significant breach in his fiduciary relationship to his clients."
The tribunal found Mr Dallison "no longer a fit and proper person to be a barrister and solicitor".
"As regulator of the legal profession, the Law Society is committed to ensuring high standards of conduct by practitioners," Law Society president Jonathan Temm said.
"The public at large can be sure that members of the legal profession will be held to those high standards."