In a case of first impression, a Lehigh County trial judge has ruled that billable hour and contingency fee matters transferred from one firm to another are not “assets” under the Uniform Fraudulent Transfer Act.
Lehigh County Court of Common Pleas President Judge Carol K. McGinley did, however, entertain the possibility that the former firm’s potential quantum meruit claim for work it performed prior to the conclusion of a transferred contingency fee matter could be considered to have value, but she stopped short of actually finding that an unripened quantum meruit claim is an asset under the UFTA.
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