Adoption of UCC revised Article 9 in IllinoisBy Robert T. Bruegge & Stephen OlsonCommercial Banking, Collections, and Bankruptcy, April 2000The National Conference of Commissioners on Uniform State Laws ("NCCUSL") and the American Law Institute have been working for many years on a rewrite to Article 9 of the Uniform Commercial Code.
Coming attractions: In re Hen House Interstate, Inc. Supreme Court grants certiorariBy Timothy J. HowardCommercial Banking, Collections, and Bankruptcy, March 2000On November 8, 1999, the United States Supreme Court granted certiorari of the en banc decision of the Eighth Circuit Court of Appeals in Hartford Underwriters Ins. Co. v. Magna Bank, N.A. (In re Hen House Interstate, Inc. ) 177 F. 3d 719 (8th Cir. 1999) cert. granted, 120 S. Ct. 444 (1999).
Ex-Im bank: Access to trade financeBy Paul DubrinCommercial Banking, Collections, and Bankruptcy, October 1999Exporting is a fundamental part of doing business for growing numbers of U.S. companies.
Individual held personally liable for corporation’s failing to comply with statutory formalitiesBy Loren R. Stone & A. Jay GoldsteinCommercial Banking, Collections, and Bankruptcy, October 1999In a recent decision, the Illinois Appellate Court has held that a corporation's failure to comply with filing requirements of the Business Corporation Act regarding the adoption and use of assumed names, will subject an individual to personal liability for breach of contract.
Credit card balance transfers: The new preference in townBy Gary T. RafoolCommercial Banking, Collections, and Bankruptcy, April 1999Along with the expansion in the number of credit cards issued, and the competition for customers, credit card issuers have in recent years begun encouraging card holders to transfer the balances from other credit cards to the issuer's card.
SBA 504: The expansion programBy Karen Lennon & Lewis F. MatuszewichCommercial Banking, Collections, and Bankruptcy, April 1999In the Chicago area, the SBA 504 loan program is the fastest growing financing option for expanding businesses.
Enforceability of loan documents executed by a dissolved corporationBy Karen A. WhiteCommercial Banking, Collections, and Bankruptcy, January 1999While certainly many, if not all, lenders have set procedures to follow when lending money to a corporation which includes obtaining a Certificate of Good Standing, what happens if the procedure is not followed and a loan is given to a dissolved corporation?
