Section Newsletters

Articles on commercial banking

Celsius Cryptocurrency Woes: Bad News for Those Whose Cryptocurrency Is Trapped in the Estate, Could Be Worse for Those Who Think They’ve Escaped By Ronald A. Spinner Commercial Banking, Collections, and Bankruptcy, April 2023 A summary and analysis of In re Celsius Network LLC, et al.
Here Comes the Sun By Judge Michael Chmiel Commercial Banking, Collections, and Bankruptcy, April 2023 An introduction to the issue from the editor.
The Use of Artificial Intelligence in Commercial Litigation By Judge Michael Chmiel Commercial Banking, Collections, and Bankruptcy, April 2023 The use of artificial intelligence in the legal industry has been on the rise in recent years and has been particularly useful in commercial litigation.
If the Dress Fits, You Must Acquit: A Trial Lawyer’s Tale By Julia Jensen Smolka Commercial Banking, Collections, and Bankruptcy, February 2023 A member of the section council shares a memorable case that went to trial.
Obligations of a Dissolved Corporation Versus a Dissolved LLC By Douglas C. Giese Commercial Banking, Collections, and Bankruptcy, February 2023 An overview of how Illinois law addresses the dissolution of different business entities.
Personal Injury Plaintiff Fails to Disclose Lawsuit in Chapter 13 Bankruptcy Petition By Robert Handley Commercial Banking, Collections, and Bankruptcy, February 2023 A summary and analysis of Duniver v. Clark Material Handling Co., et al.
Repair Service Providers and the Labor and Storage Lien (Small Amount) Act By Dominic G. Erbacci Commercial Banking, Collections, and Bankruptcy, February 2023 The Illinois Labor and Storage Lien Act gives a business the right to sell an item at a public or private sale and keep the proceeds.
Assignment of Promissory Note Includes Assignment of Continuing Guaranty By Kevin Stine Commercial Banking, Collections, and Bankruptcy, November 2022 In Amos Financial, LLC v. Szydlowski, the trial court entered summary judgment in favor of a creditor enforcing a promissory note guarantee. The appellate court affirmed.
Service of Third-Party Citation to Discover Assets Via Email Is Not Effective By Kevin Stine Commercial Banking, Collections, and Bankruptcy, November 2022 In Midwest Commercial Funding, LLC v. Kelly, the appellate court determined that service of a third-party citation to discover assets was not effective when sent via email.
Bank Loses Claim to Collateral By Michael Weissman Commercial Banking, Collections, and Bankruptcy, July 2022 Although after-acquired personal property collateral can be included in a bank's collateral by using an after-acquired clause in the collateral description, that is not true of real estate. 
Can a Wire Transfer Be Recalled After It Is Accepted? By Michael Weissman Real Estate Law, July 2022 In a case involving the Uniform Commercial Code, decided by the United States District Court for the Eastern District of Virginia in September 2021, the court was called upon to decide when an accepted payment order may be canceled.
Bank’s UCC Liens Trump Wage Claims in Federal Receivership By Michael Weissman Commercial Banking, Collections, and Bankruptcy, May 2022 Even though courts are generally sympathetic to wage claims of employees of insolvent borrowers, they will not use state statutory law to subordinate earlier-perfected security interests in the borrower’s assets to those wage claims unless the state law clearly grants the wage claims a lien priority position.
Can a Wire Transfer Be Recalled After It Is Accepted? By Michael Weissman Commercial Banking, Collections, and Bankruptcy, May 2022 In a case involving the Uniform Commercial Code, decided by the United States District Court for the Eastern District of Virginia in September 2021, the court was called upon to decide when an accepted payment order may be canceled.
Time Standards Are Here for Cases in Illinois Courts By Judge Michael Chmiel Commercial Banking, Collections, and Bankruptcy, May 2022 On March 25, 2022, the Supreme Court of Illinois entered an order which will (should) change the handling of cases in the circuit courts of Illinois.
Time Standards Are Here for Cases in Illinois Courts By Judge Michael Chmiel Bench and Bar, May 2022 On March 25, 2022, the Supreme Court of Illinois entered an order which will (should) change the handling of cases in the circuit courts of Illinois.
When Does a Denial Create a Question of Fact? Eviction vs. Non-Eviction Standards By Adam B. Whiteman Real Estate Law, April 2022 A defendant in an eviction case has two opportunities to create a question of fact—the first in the pleadings, the second at the eviction hearing.
Bank Not Liable Under the Statute of Frauds By Michael Weissman Commercial Banking, Collections, and Bankruptcy, March 2022 In Modern Industries, Inc., vs. Oxford Bank Corp., the claimants sued the bank for alleged negligence in unilaterally changing the terms of certain loans in violation of the parties’ agreement, breach of fiduciary duty by failing to properly distribute loans, and engaging in in constructive fraud and misrepresentation by waiting to disclose unilateral changes to the final loan documents until the claimants were left with no choice except to close the loans.
When Does a Denial Create a Question of Fact? Eviction vs. Non-Eviction Standards By Adam B. Whiteman Commercial Banking, Collections, and Bankruptcy, March 2022 A defendant in an eviction case has two opportunities to create a question of fact—the first in the pleadings, the second at the eviction hearing.
Allonge Enables Bank to Enforce Note By Michael Weissman Commercial Banking, Collections, and Bankruptcy, January 2022 When all or a portion of a bank’s loan portfolio is transferred, it is not uncommon to use allonges as instruments of transfer.
IRA Accounts Can Stand as Collateral, Cannot Be Liquidated Without Recourse By Michael Weissman Commercial Banking, Collections, and Bankruptcy, January 2022 A summary and analysis of Cassidy v. Signature Bank, in which the use and availability of IRA accounts to satisfy a debt was at issue.
Consumer Fraud in a Dispute Between Two Businesses: Is It a Thing? By Adam B. Whiteman Commercial Banking, Collections, and Bankruptcy, May 2021 One business can sue another for consumer fraud if the allegation involves conduct where one business publishes false statements about another business to consumers.
Bank Suffers Wire Transfer Trauma By Michael Weissman Commercial Banking, Collections, and Bankruptcy, April 2021 A summary and analysis of In re Citibank August 11, 2020 Wire Transfers.
Proving Up Damages in a Home Construction/Remodeling Case By Adam B. Whiteman Real Estate Law, April 2021 A look at how to prepare for trial in a residential construction defect case.
Proving Up Damages in a Home Construction/Remodeling Case By Adam B. Whiteman Construction Law, February 2021 A look at how to prepare for trial in a residential construction defect case.
UCC Filing Sinks Unsecured Creditor’s Unjust Enrichment Claim Against Bank By Michael Weissman Commercial Banking, Collections, and Bankruptcy, February 2021 In GlobalTranz Enterprises, Inc. v. PNC Bank, N.A., the court applied California law and dismissed a lawsuit brought by GlobalTranz Enterprises, Inc. against PNC based on unjust enrichment.
Floor Plan Financier Can’t Reclaim Collateral Due to Lack of UCC Filing By Michael Weissman Commercial Banking, Collections, and Bankruptcy, January 2021 A summary and analysis of In re Hawaii Motorsports, LLC.
Floor Plan Financier Can’t Reclaim Collateral Due to Lack of UCC Filing By Michael Weissman Business Advice and Financial Planning, January 2021 A summary and analysis of In re Hawaii Motorsports, LLC.
The Second District Civil Decision Digest for the Commercial Banking, Collections & Bankruptcy Section By Andrew J. Mertzenich Commercial Banking, Collections, and Bankruptcy, December 2020 Summaries of cases that may be of interest to the Commercial Banking, Collections, & Bankruptcy Section.
Second District Confirms That Receiver Certificates May Prime Prior Liens By James M. Dash & Steven D. Mroczkowski Construction Law, December 2020 The appellate court recently held in REEF-PCG, LLC v. 747 Properties, LLC that debt certificates issued by a court-appointed receiver for the cost of completing construction of improvements may be entitled to a lien against the subject property that has priority over earlier liens.
Trial on the Papers: An Alternative to Cross-Motions for Summary Judgment By Morton Denlow Commercial Banking, Collections, and Bankruptcy, December 2020 Cross-motions for summary judgment can lead to a tremendous waste when they are denied. A trial on the papers is a useful alternative.

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