A mortgage held by Riker, Danzig, Scherer, Hyland & Perretti to secure a client’s unpaid legal fees takes priority over two earlier mortgages that a factoring company issued on the same property, the Supreme Court has ruled.
The law firm’s mortgage takes precedence over mortgages that were issued earlier but which made cash advances after the factoring company received notice of the law firm’s subsequent mortgage, the court said.
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