Section Newsletters

Articles on Commercial Law

The New Receivership Act: Claims Filing, Automatic Stays, and Receivership Sales of Real Estate By Paul Peterson Commercial Banking, Collections, and Bankruptcy, February 2026 This article higlights some of the key sections of the Receivership Act that should be considered in practice, including purpose, scope, notice, status of receiver as lien creditor, sale of real estate, contracts, injunctions, claims bar date, and discharge of the receiver. 
Don’t Get Burnt in the Heat By Judge Michael J. Chmiel Commercial Banking, Collections, and Bankruptcy, July 2025 A note from Judge Michael J. Chmiel regarding the upcoming bar year. 
Statute of Limitations for Line of Credit Is 5 Years? By Kevin J. Stine Commercial Banking, Collections, and Bankruptcy, July 2025 In BMO Bank N.A. v. Zbroszczyk, the Illinois Appellate Court recently affirmed dismissal of a mortgage foreclosure action based on a revolving line of credit. 
Landlord’s lien issues: A trap for the uninformed and unmotivated By James R. Grebe Commercial Banking, Collections, and Bankruptcy, May 2002 Article 9 of the Illinois Uniform Commercial Code (810 ILCS 5/9-101, et seq.) (hereinafter referred to as "UCC") was revised in Year 2000. The revisions were effective July 1, 2001.

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