BOARD OF PROFESSIONAL RESPONSIBILITY (2018)
Archived Content: This document is formally archived for historical reference. The original PDF remains the official record for legal purposes.
Need help? Please use the Assistance Request Form below.
Original PDF Document
Download Official Record (mccormack-2685-9-rel.pdf)
Alternative Accessible HTML
Accessible Alternative: This HTML version is an automatically processed accessible alternative. While it provides a searchable format, the text extraction may contain formatting or character errors. The original PDF remains the authoritative official record.
Need a different format? Use the Request Assistance Form.
BOARD OF PROFESSIONAL RESPONSIBILITY
OF THE
SUPREME COURT OF TENNESSEE
10 CADILLAC DRIVE, SUITE 220
BRENTWOOD, TENNESSEE 37027
TELEPHONE: (615) 361-7500
(800) 486-5714
FAX: (615) 367-2480
E-MAIL: ethics@tbpr.org
Website: www.tbpr.org
RELEASE OF INFORMATION
RE: CLAY M. MCCORMACK, BPR #015559
CONTACT: WILLIAM C. MOODY
BOARD OF PROFESSIONAL RESPONSIBILITY
615-361-7500
October 8, 2018
SHELBY COUNTY LAWYER SUSPENDED
On October 5, 2018, Mr. McCormack was suspended from the practice of law by Order of the
Tennessee Supreme Court for five (5) years, with one (1) year of active suspension and the remainder to be
served on probation, effective ten (10) days from entry of the Order. As conditions of his probation, Mr.
McCormack must engage a practice monitor and commit no further acts of misconduct resulting in a
recommendation of discipline. Mr. McCormack must pay the Boardâs costs and expenses and the court costs
before petitioning for reinstatement, or within ninety days of the entry of the Order of Enforcement, whichever
occurs first.
Mr. McCormack closed numerous real estate transactions involving Lee Bishop as the seller in which
Mr. McCormack prepared settlement statements showing Mr. Bishopâs mortgage being paid off from the
purchase money. Mr. McCormack prepared checks payable to Mr. Bishopâs lenders in order to pay off those
mortgages. Following the closings, Mr. McCormack voided the payoff checks and wrote new ones to Mr.
Bishop. Mr. McCormack wrote letters to the buyersâ lenders stating that the sellersâ mortgages had been paid
off when they had not. Mr. McCormack incorrectly believed that Mr. Bishop was going to obtain a release of
the liens on the property he was selling by substituting other pieces of property he owned as collateral for the
loans. In many such transactions, Mr. Bishop failed to obtain a substitution of collateral. When his lenders
foreclosed on those loans, the buyersâ lenders did not have first liens.
Mr. McCormackâs ethical misconduct violates Rules of Professional Conduct 1.1, Competence; 4.1(a),
Truthfulness in Statements to Others; and 8.4(a) and (c), Misconduct.
Mr. McCormack must comply with the requirements of Tennessee Supreme Court Rule 9, Sections 18
(2006) and 30 (2014), regarding the obligations and responsibilities of suspended attorneys.
McCormack 2685-9 rel.doc