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Wednesday, September 15, 2010

HAVEN SAVINGS BANK V. KATHLEEN M. ZANOLINI, ET AL. NEW YORK COMMUNITY BANK V. DONIE RAY ANDERSON A-3962-08T1/A-4069-08

HAVEN SAVINGS BANK V. KATHLEEN M. ZANOLINI, ET AL.

NEW YORK COMMUNITY BANK V. DONIE RAY ANDERSON

A-3962-08T1/A-4069-08T1

09-07-10 (consolidated)

Attorney-in-fact Global Discoveries, Ltd., appealed a final

order awarding it fees less than the thirty-five percent fees

specified in contingent-fee agreements with defendants Kathleen

M. Zanolini and Donie Ray Anderson in connection with Global's

efforts to recover excess funds from Sheriff's sales of the

defendants' properties. Because such agreements are governed by

section 106 of the New Jersey Uniform Unclaimed Property Act,

N.J.S.A. 46:30B-1 to -109, we applied N.J.S.A. 46:30B-106 to the

contingent fee agreements. We determined that such agreements

are specifically authorized by that section, which allows

thirty-five percent contingent fees where the agreement is

executed before property has been deemed abandoned and turned

over by the holder to the State Treasurer. We affirmed the

portion of the order respecting fees due from Zanolini's

unclaimed property, because the agreement did not state the

amount of the net recovery to Zanolini as N.J.S.A. 46:30B-106

requires. However, we reversed the order respecting Anderson

because the contingent fee agreement conformed entirely with

N.J.S.A. 46:30B-106 and we remanded the matter to the General

Equity judge for entry of a judgment in favor of Global pursuant

to its contingent fee agreement providing a thirty-five percent

contingent fee.