You have represented ABC Company for many years and seen it grow from a mom-and-pop operation to having more than $200 million in annual revenues and more than 300 employees. You are of that increasingly rare breed—a corporate generalist—and have represented ABC on its day-to-day contractual matters and during occasional acquisitions. But now, the first-generation owners have told you that they wish to sell the business. Of course, they want you to represent them in this once-in-a-lifetime transaction. The investment banker they have engaged to conduct the sale process has recommended that the buyer be required to obtain a representations and warranties (rep & warranty) insurance policy as part of the transaction. While you have heard about rep & warranty insurance, you have never come across it on a transaction before. Dykema attorneys Stephen Sayre and Brendan Cahill, in their November 2019 Illinois Bar Journal article, “Coming to a Deal Near You,” walk you through the steps of a deal requiring rep & warranty insurance.
Illinois Bar Journal
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November 12, 2019 |
Practice News
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November 4, 2019 |
Practice News
At times, clients must be distinguished from nonclients for purposes of determining who is a client during attorney-client communications involving a corporate client, says Jeffrey Parness in his November 2019 Illinois Bar Journal article, “Confidentiality and Client Communications in Illinois.” In this setting—in Illinois, though often not elsewhere, Parness shows,—the so-called “control group” test serves to limit who speaks as an agent for the corporate client. As well, the law of masters and servants is usually not employed to determine issues of client agency in the attorney-client communication setting. One takeaway: An Illinois appellate ruling has placed the burden of proof on agency on the party asserting the privilege.
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October 28, 2019 | Practice News
The Illinois Bar Journal’s November cover story examines “8 Things Killing Your Law Firm—and How to Stop Them.” The article complements a CLE program presented by Affinity Consulting Group earlier for the Illinois State Bar Association regarding common management ruts and how to get out of them using techniques such as Lean and Six Sigma.
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October 21, 2019 |
Practice News
The many standards of appellate review, and how these standards have evolved over time, may be creating confusion as to how to review factual determinations made by lower courts in relocation cases, writes Daniel Alcorn in his article, “Relocation, Relocation, Relocation,” in the October 2019 Illinois Bar Journal. Alcorn goes on to explore why it appears “to be so difficult … for the appellate court to faithfully adhere to what appears to be a fairly straightforward standard of review”? One reason: “There are many standards of appellate review, and their evolution over time independently of one another has caused a ‘state of confusion,’ as observed by one commentator.”
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October 14, 2019 |
Practice News
The purchase of a home with hidden defects has a body of law of its own. At its center is the Residential Real Property Disclosure Act. While it is commonly known that sellers must disclose certain defects, the nuances may be less known. What type of defects must be disclosed? Can a seller give an example of the problem, as opposed to an exhaustive list? Can a seller rely on the real estate agent’s advice about what to disclose? What if the sellers deny that they were aware of the defects? What if the sellers claim they believed the issue had been repaired? In his October Illinois Bar Journal article, “Full Disclosure,” Joseph Rubas answers these questions so that you can help your new-homeowner clients.
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October 7, 2019 |
Practice News
Minors have no common-law or constitutional right to be tried in juvenile court. Accordingly, there are a number of statutory options the state has under the Adult Code of Corrections to either try or sentence minors as adults. But all is not lost, according to veteran Cook County Public Defender Kathy Roller. In her October Illinois Bar Journal article, “Transfers, EJJs, and Defense Attorneys, Oh My!,” Roller leads a master class in fighting for a juvenile client who is facing the possibility of adult prison.
"There is a lot of work to be done in a short period of time and a child’s life hangs in the balance,” Roller writes. “The pressure and stress can be significant. Give this work the respect it deserves. So, panic once. And then let it go. Focus all of your energy on winning the case.”1 comment (Most recent October 10, 2019) -
September 30, 2019 |
Practice News
ISBA members believe the greatest threat to the legal profession is competition from nonlawyer legal services. But when asked to identify the biggest threat to their own practice, members said the unwillingness or inability of clients to pay. The two assertions are arguably correlated: Clients who struggle to pay may look for cheaper alternatives next time. The findings are among many thought-provoking results from the 2019 Economic, Marketing, and Business Health Survey conducted this spring by Readex Research on behalf of the ISBA’s Standing Committee on the Future of Legal Services. The purpose of the survey is to “better understand the current economic climate [and] marketing and business practices among ISBA members … in private practice.” More than 800 private-practicing members completed the survey, which is summarized in October’s Illinois Bar Journal.
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September 23, 2019 |
Practice News
Two articles in September’s Illinois Bar Journal explore the pros and cons of communicating with clients via texting, Facebook, and other digital and online tools. In the first article, ISBA members from a recent ISBA Central discussion thread debate best communication practices. In the second, Affinity Consulting’s Cyara Hotopp lists the do’s and don’ts of texting clients. The respective articles are available online:
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September 16, 2019 |
Practice News
While it has long been recognized that there is a separation of powers under the Illinois Condominium Property Act between condominium boards and unit owners, condominium boards have possessed almost all of the decision-making authority under the Act, including deciding rule violations. But, according to Ellis Levin in his September 2019 Illinois Bar Journal article, “Power to the Condo Unit Owner,” that power has shifted in Boucher v. 111 East Chestnut Condominium Association. In Boucher (Justice Neville’s final appellate opinion before joining the Illinois Supreme Court), the balance of power has shifted from condominium officers and boards to unit owners when unit owners protest rule violations and request meeting records.
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September 9, 2019 |
Practice News
The Illinois Bar Journal’s September 2019 cover story, “A Path to Leadership,” details the ISBA’s proactive efforts to develop the Association’s next generation of leaders by launching a Leadership Academy. “We’re looking forward to this program,” says ISBA president David Sosin, who practices at Sosin, Arnold & Schoenbeck in Orland Park. “It will be one of the more exciting programs on a continuing year-after-year basis for our young members. It will not only pay great dividends to the Illinois State Bar Association, but to bar associations across the state for many years to come.”