In what circumstances will independent counsel refuse to finance a joint venture?

In Cavallin v. King, 1984 CanLII 684 (BC SC), [1984] B.C.J. No. 2820 (S.C.), Wallace J. found that a responsible solicitor would never have advised the plaintiffs to finance a joint venture on the terms presented by the solicitor; the transaction was advantageous to the solicitor and the architect, who had little to lose and much to gain from participating, while Cavallin put at risk the major portion of his assets with little or no chance of recouping any loss from his partners, yet his share of possible profits was in the same proportion as theirs. In that case, the plaintiffs were restored to the position they would have been in had they been appropriately advised by independent counsel to decline the invitation to finance the venture.