NJ Justices Say Future Attys' Fees Count As Security

Law360, New York (November 14, 2017, 7:18 PM EST) -- The New Jersey Supreme Court on Tuesday upheld an appeals panel’s decision that anticipated legal fees constitute a valid security interest under the Uniform Commercial Code, dealing a blow to a law firm and an accounting practice creditor who challenged the distribution priority of a bankrupt attorney’s assets.

The Appellate Division had upended a lower court’s ruling that creditor OKS Realty could only collect on its $125,000 loan to former attorney Diane Marie Acciavatti after two other creditors, accounting firm Rotenberg Meril Solomon Bertiger & Guttilla...
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