Clients’ Protection Fund Board

Jacqueline W. Lucas, chair

The Clients’ Protection Fund was established in 1976 to make monetary awards to people who have suffered financial losses because of the dishonest conduct of Virginia lawyers. The fund is managed by a fourteen-member board appointed by the Virginia State Bar Council.  Board members investigate all petitions from clients for payments from the fund. The board hears each petition and determines the amount of loss.

As of July 1, 2015, thirty-nine (39) claims were pending from the previous year. In FY 2016, eighty-seven (87) new petitions were received and five (5) petitions were re-opened. The total amount paid during 2015-2016 was $212,287.82 representing forty-three (43) claims. The board denied thirteen (13) petitions, and twenty-two (22) petitions were rejected for not meeting the CPF rule requirements. Two (2) claims were withdrawn by the petitioner.  As of June 30, 2016, there were fifty-one (51) pending claims. The board reviewed and investigated sixty-nine (69) claims during the year. 

The fund began the fiscal year on July 1, 2015, with a cash balance of $7,596,994.  The Clients’ Protection Fund $25 assessment from all active attorneys totaled $800,025.  Interest income, net of bank service charges for the fiscal year, totaled $108,509.  The fund received restitutions from attorney general’s collections, debt set-off, and individual restitutions in the amount of $21,070 net of attorney’s fees for collection services. As of June 30, 2016, the cash balance in the fund was $8,309,226.

The Clients’ Protection Fund board members are to be commended for the many hours they spend investigating and deliberating claims submitted to the board. Appreciation is extended to A. Franklin Brogdon, Jack L. Harris, Colin D. Stolle and Jacqueline W. Lucas, who is rotating off the board, for their years of service. 

The board welcomes David Brandt Oakley from the second disciplinary district; Dr. Theodore Smith (lay member) from the sixth disciplinary district; Mary Grace Anne O’Malley from the fifth disciplinary district and Mary Yancey Spencer from the third disciplinary district as new members for the fiscal year 2016-2017.

Updated: Aug 03, 2016