Section Newsletters

Articles on commercial banking

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 Business Advice and Financial Planning, 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 Commercial Banking, Collections, and Bankruptcy, 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.
Get Paid! Collecting on Commercial Debt: The Philosophy of the Fight By Adam B. Whiteman Commercial Banking, Collections, and Bankruptcy, October 2020 It is critical when collecting on a commercial debt that you recognize patterns in the debtor’s behavior so that you prevent problems before they occur.
Lost Note Ruled Enforceable By Michael Weissman Commercial Banking, Collections, and Bankruptcy, October 2020 A summary and analysis of Kim v. JP Morgan Chase Bank N.A.
The ‘New Default Rule’ Saves Lenders From the Harsh Results of the Single Re-Filing Rule By Thomas J. Cassady Commercial Banking, Collections, and Bankruptcy, October 2020 In Wilmington Savings Fund Society v. Barerra, the appellate court opinion gave lenders and mortgagees some relief from the harshness of the Illinois Supreme Court’s 2018 Cobo decision based on the “single re-filing rule.”
Proving Up Damages in a Home Construction/Remodeling Case By Adam B. Whiteman Real Estate Law, October 2020 A look at how to prepare for trial in a residential construction defect case.
Second District Confirms That Receiver Certificates May Prime Prior Liens By James M. Dash & Steven D. Mroczkowski Commercial Banking, Collections, and Bankruptcy, October 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.
For Everyone’s Sake: Get Terms of Commercial Credit in Writing By James Richard Myers & Ariana E. Thurnau Commercial Banking, Collections, and Bankruptcy, August 2020 Although we may long for a world where such is not the case, oral agreements to extend or modify commercial credit terms are not legally enforceable in Illinois.
Proving Up Damages in a Home Construction/Remodeling Case By Adam B. Whiteman Commercial Banking, Collections, and Bankruptcy, August 2020 A look at how to prepare for trial in a residential construction defect case.
Trustee’s Judicial Lien Trumps Consignor’s Unperfected Security Interest By Michael Weissman Commercial Banking, Collections, and Bankruptcy, August 2020 A summary and analysis of PC (USA), Inc. v. Ellis, which points out the necessity of filing UCC financing statements in consignments.
Bank and Borrower Did Not Collude to Injure Another Lender By Michael L. Weissman Commercial Banking, Collections, and Bankruptcy, June 2020 In NearGear Capital, Inc. v. Bank of Springfield, the question was whether Bank of Springfield had colluded with its borrower, Gateway Buick GMC, Inc. to injure Gateway’s floor plan lender, NextGear Capital, Inc.
Save Judicial Resources: Eliminate Orders for Alias Summons By Robert G. Markoff & Steven A. Markoff Commercial Banking, Collections, and Bankruptcy, June 2020 Judges contemplating how to resume their court calls should consider setting a specific time period for the plaintiff to obtain service.
When an Account Receivable Isn’t an Account Receivable By Michael Weissman Commercial Banking, Collections, and Bankruptcy, April 2020 The decision of the Supreme Court of Illinois in Accettura v. Vacationland focuses on an issue involving the validity of collateral on which lenders depend heavily—a borrower’s accounts receivable.
Creditors’ Willful Violation of the Automatic Stay Under 11 U.S.C. § 362(k) of the Bankruptcy Code: When the Debtor Initiates Contact By Taofikat I. Ninalowo Commercial Banking, Collections, and Bankruptcy, February 2020 A discussion of creditors’ willful violation of the automatic stay under section 362 of the Bankruptcy Code.
Second Citations to Discover Assets Directed to a Previous Respondent By Robert G. Markoff Commercial Banking, Collections, and Bankruptcy, February 2020 Supreme Court Rule 277 imposes a major limitation on the number of citations to discover assets that may be issued to one party.
Trends in Overdraft Fee and NSF Litigation By Matt Mulqueen & Robert Tom Commercial Banking, Collections, and Bankruptcy, February 2020 There has recently been an increase in class action lawsuits against banks and credit unions challenging the manner in which those institutions charge overdraft and non-sufficient funds fees.
Tweaks to Judgment Enforcement Law By Robert G. Markoff Commercial Banking, Collections, and Bankruptcy, February 2020 P.A. 101-191, which was recently signed into law, updates and modernizes several aspects of judgment enforcement law related to citations to discover assets, garnishment, and wage deduction.

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