Section Newsletter Articles on Lenders and Borrows
Piercing the corporate veil in Illinois: A tool for lenders
Commercial Banking, Collections, and Bankruptcy
, September 2012
In Wachovia Securities, LLC v. Banco Panamericano, the Seventh Circuit Court of Appeals considered what must be established under Illinois law to impose liability on corporate insiders for indebtedness incurred by the corporation.
Seventh Circuit rules for lender in River East Plaza case
Corporate Law Departments
, November 2007
In River East Plaza, L.L.C. v. The Variable Life Annuity Co., 2006 WL 278483 (N.D. Ill. Sept 22, 2006), the borrower, a major commercial and real estate developer, entered into a $13 million, 20-year mortgage loan (amortized at a 28-year schedule, with a balloon) in 1999.