Section Newsletters

Articles on commercial banking

Education and AI Abound By Hon. Michael J. Chmiel Commercial Banking, Collections, and Bankruptcy, April 2026 A note from the Co-Editor of the Commercial Banking, Collections, and Bankruptcy Section Newsletter, including a look at benefits and challenges of artificial intelligence.
Protecting Aircraft Collateral Protects Lenders By Michael G. Cortina Commercial Banking, Collections, and Bankruptcy, April 2026 Secured loans require collateral, and lenders usually protect the collateral with certain provisions—like requiring insurance in a certain amount. But insurance alone may not be sufficient for uncommon types of loans. Counsel for lenders should strongly encourage that their clients require aircraft borrowers have their aircraft be enrolled in a bank-approved engine program as part of the loan agreement.
Unforeseeable Business Circumstances Exception as a Defense to a Claim Brought Under the WARN Act By Hon. Alon Stein Commercial Banking, Collections, and Bankruptcy, April 2026 The WARN Act requires that business enterprises which employ 100 or more employees give employees 60-days notice in advance of any mass layoffs or plant closings, unless certain exceptions apply. The Unforeseeable Business Circumstances Exception is very fact sensitive. Attorneys need to be aware of this argument when defending WARN Act claims.
Updated Judgment Enforcement Forms: Citations To Discover Assets By Robert G. Markoff Commercial Banking, Collections, and Bankruptcy, April 2026 The Administrative Office of the Illinois Courts, Access to Justice Division, Forms Project, has just released updated forms for the enforcement of judgments. The new forms are effective immediately. They incorporate changes required by Public Act 104-0120 effective January 1, 2026.
You Have a Right for Discovery and a Hearing: When Defending 2-619 Motions To Dismiss You Can Seek Discovery and Have an Evidentiary Hearing By Hon. Alon Stein Commercial Banking, Collections, and Bankruptcy, April 2026 When served with a 2-619 Motion to Dismiss early in litigation, the respondent needs to know that there are tools at its disposal to prevent a potential rush to judgment, such as discovery and an evidentiary hearing. Carefully review the Illinois Code of Civil Procedure, Illinois Rules of Evidence, and Illinois Supreme Court Rules for the tools that can be used to combat a 2-619 Motion to Dismiss. 
Challenging a De Facto Administrative Review: Objecting to Any Sua Sponte Review of an Administrative Agency by a Circuit Court When No Administrative Review Complaint Has Been Filed By Hon. Alon Stein Commercial Banking, Collections, and Bankruptcy, February 2026 If you are faced with a situation where a circuit court is seeking to review administrative actions that would undo favorable rulings issued by an administrative agency, you should consider objecting on the grounds that the circuit court lacks jurisdiction to examine whether an administrative agency has followed its procedures, especially if an administrative review complaint has not been filed.
Hedge Funds: A Response to a Run on the Fund By Sylvia Tolczyk Commercial Banking, Collections, and Bankruptcy, February 2026 By nature, hedge funds are highly leveraged and illiquid. Where investors rush to redeem investments, a self-reinforcing downward spiral can spread. This fear causes other investors to also request redemptions, further worsening the problem. When redemption demand outnumbers the fund’s underlying assets, hedge fund managers may face a “run on the fund.” 
Settling Cases by Consent Judgment By Hon. Alon Stein Commercial Banking, Collections, and Bankruptcy, February 2026 Yes, you do have settlement authority and you are negotiating in good faith if the only thing your client can offer at a pretrial settlement conference is a consent judgment!
Welcome to 2026 Where Life Happens as We Try To Hold the Line on Decorum By Hon. Michael J. Chmiel Commercial Banking, Collections, and Bankruptcy, February 2026 A note from the Editor of the Commercial Banking, Collections, and Bankruptcy Newsletter regarding the current issue and the start of the new year. 
You Can Run but Can’t Hide: Service via Social Media, Email, and Text Messages By Hon. Alon Stein & Hon. Yolanda Sayre Commercial Banking, Collections, and Bankruptcy, February 2026 Have you ever had that elusive defendant that was dodging service? How amazing would it be if you could text the summons and complaint to that defendant or serve him or her via Facebook through an account where he or she had continuously posted pictures of their lavish vacation? The good news is: you can!
Frequently Asked Questions and Suggested Best Practices Related to Generative Artificial Intelligence in the Legal Profession By Carolyn Elefant Federal Taxation, January 2026 AI in the practice of law is becoming unavoidable--familiarize yourself with obligations that may arise with usage of AI in your practice, including copyright, plagiarism, disclosure, privacy and confidentiality, duty to supervise, and legal ethics. 
The End Is Near By Hon. Michael J. Chmiel Commercial Banking, Collections, and Bankruptcy, November 2025 An introduction to the current issue and a nod to the close of 2025. 
Frequently Asked Questions and Suggested Best Practices Related to Generative Artificial Intelligence in the Legal Profession By Carolyn Elefant Commercial Banking, Collections, and Bankruptcy, November 2025 AI in the practice of law is becoming unavoidable--familiarize yourself with obligations that may arise with usage of AI in your practice, including copyright, plagiarism, disclosure, privacy and confidentiality, duty to supervise, and legal ethics. 
Hyman’s Holdings: Knowing When To Stand Firm By Justice Michael B. Hyman Commercial Banking, Collections, and Bankruptcy, November 2025 In his new column, Hyman's Holdings, featured in the Civil Practice & Procedure Newsletter, Justice Hyman explores various topics related to the legal profession. 
Join Us at the ISBA & IJA Midyear Meeting—a Taste of What’s Ahead By Ted M. Niemann Commercial Banking, Collections, and Bankruptcy, November 2025 The Joint Midyear Meeting, hosted by the Illinois State Bar Association and the Illinois Judges Association, is a can't-miss event, offering CLE programs on democracy preservation and the ethical use of AI; a Member Appreciation Reception featuring Glow Bingo and prizes; the Illinois Bar Foundation for the Champions Breakfast; the IJA/ISBA Joint Midyear Meeting Luncheon; and a Holiday Reception honoring the Supreme Court of Illinois. Register today! 
Judgments in Illinois: What Attorneys Need To Know About Confession, Revival, and Enforcement By Julia Jensen Smolka Commercial Banking, Collections, and Bankruptcy, November 2025 Familiarize yourself with collection procedures to best serve your clients.  This article examines judgment collection, including confessions of judgment, vacating a judgment, reviving dormant judgments, bankruptcy, and pre-judgment attachment.
1 comment (Most recent November 19, 2025)
Observations From a Judge on Collection Litigation, and Perhaps All Litigation By Hon. Michael J. Chmiel Commercial Banking, Collections, and Bankruptcy, November 2025 An insightful behind the scenes look at thoughts from a 21-year-tenured judge in the 22nd Judicial Circuit Court regarding time standards, technology, mentorship, and standing orders. 
1 comment (Most recent November 27, 2025)
The Transient Debtor and the Debtor’s Homestead Exemption By Laura E. Richardson Commercial Banking, Collections, and Bankruptcy, November 2025 Courts are split regarding the application of extraterritorial exemption law in bankruptcy cases. As the population becomes more migratory, bankruptcy practitioners should be cognizant of the laws surrounding transient debtors who may be filing bankruptcy in a new state. 
Back To Work at Summer’s End By Judge Michael J. Chmiel Commercial Banking, Collections, and Bankruptcy, September 2025 A note from the Editor of the Commercial Banking, Collections, and Bankruptscy Newletter regarding the closing of summer, the beginning of fall, and the current issue. 
The Cost of Doing Business By Michael G. Cortina Commercial Banking, Collections, and Bankruptcy, September 2025 Learn more about the control banks have when responding to third party requests for documents and information, and how creditors should tailor their citations to banks as much as possible. 
Note Is Unenforceable but the Lien on the Property Remains Valid By Robert Handley Commercial Banking, Collections, and Bankruptcy, September 2025 A summary of Chicago Title Land Trust v. Sara Watkin, 2025 IL App (1st) 241354, and lessons learned about the validity of notes and liens on property. 
Passing Judgment on the Consumer Debt Judgment Statute By Keith Barnstein Commercial Banking, Collections, and Bankruptcy, September 2025 There is not a legal presumption that any particular debt is a consumer debt judgment. Therefore, absent an evidentiary finding by the trial court, a judgment should not automatically be assumed to be a consumer debt judgment.
Public Act 104-0120: Amendments to the Code of Civil Procedure By Robert G. Markoff Commercial Banking, Collections, and Bankruptcy, September 2025 Public Act 104-0120 amends certain sections of the Illinois Code of Civil Procedure, including provisions relating to small claims, citations to discover assets, revival of judgments, garnishment, and exemptions.
Supreme Court Clarifies That Courts Must Stay Rather than Dismiss Cases Referred to Arbitration By Stephen I. Lane Commercial Banking, Collections, and Bankruptcy, October 2024 In Smith v. Spizzirri, a court cannot deny a party's request for a stay pending arbitration and dismiss the case. Section 3 of the FAA compels the court to issue a stay.
Update on Artificial Intelligence in the Illinois Courts By Hon. Michael J. Chmiel Commercial Banking, Collections, and Bankruptcy, October 2024 To some extent, the fury involved with Artificial Intelligence has slowed, but be advised AI continues to evolve and impact the fray of legal practice in Illinois and beyond.
Welcome to the Fall of 2024 By Hon. Michael J. Chmiel Commercial Banking, Collections, and Bankruptcy, October 2024 A note from the editor. 
What Is the Judicial Performance Evaluation Program?: Insights From a Facilitator By Mitchell L. Hoffman Commercial Banking, Collections, and Bankruptcy, October 2024 Under the Illinois Supreme Court program for mandatory judicial evaluation, judges are confidentially evaluated by the attorneys who appear before them and the court staff who serve in their courtrooms
Bank Class Action Developments: Latest Wave Targets Fees for Returned Third-Party Checks By Gregory D. Omer Commercial Banking, Collections, and Bankruptcy, June 2024 Three large Wall Street banks have all been sued recently over charging the same type of fees to customers for depositing checks that are later returned.
How Can ODR Help Courts in Illinois? By Judge Michael Chmiel Commercial Banking, Collections, and Bankruptcy, June 2024 With the assistance of ChatGPT, the author invesetigates the ways online dispute resolution can advance the cause of the rule of law and access to justice in Illinois.
Appeal of Mortgage Foreclosure Case Where Property Is Sold to Third Party Who Was Not a Party to the Litigation Is Moot Unless the Appellant Previously Obtained a Stay of the Trial Court’s Judgment By Kevin J. Stine Commercial Banking, Collections, and Bankruptcy, May 2024 In PHH Mortgage Corp.v. Restrepo, the appellate court determined that defendant's petition for relief from judgment that sought to vacate both the judgment of foreclosure and the order confirming the sheriff's sale of defendant's home were moot and barred because the subject property had been sold to an unrelated third party purchaser and defendant had not obtained a stay of the trial court's order confirming the sale within the time frame allowed for filing an appeal from that order.

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