The case of Heartland Bank and Trust Company v. The Leiter Group, Attorneys and Counselors Professional Corporation is warning for all attorneys who accept payments from a client in financial distress.
Citations to discover assets and the automatic stay
Two recent bankruptcy court decisions confirm that while the automatic stay of Section 362 operates to prevent any further state court proceedings to enforce the pending Citation, it does not create an affirmative duty upon the creditor that the Citation be dismissed immediately upon the filing of a bankruptcy.
Distress for rent
Although very rare today, Distress for Rent is still a useful cause of action in the right circumstances.
Dragnet clauses or bust
To avoid possible errors, every security agreement must contain a dragnet clause to allow for subsequent modifications or additional extensions of credit by the lender to be properly secured.
How secure is your security interest?
Two recent decisions—each dealing with the effectiveness of filings under Article 9 of the Uniform Commercial Code—demonstrate both the certainty and uncertainty that can be generated by efforts to comply with the UCC.
ISBA co-sponsors IJA program
On October 24, 2014, for the first time, judges and lawyers were trained to present the Bringing the Courtroom to the Classroom program.
The need for pro bono & how you can help
In 2003, low-income Illinoisans attempted to resolve approximately 875,000 legal problems on their own. Given the challenging economic times and the significant cuts in federal and state funding to legal aid since 2003, there is little doubt that these problems have been exacerbated rather than reduced.
North Shore Bank and the ever-changing work completion dates
In this case the First District Appellate Court was confronted with two mechanics lien claims where neither claimant could prove they did work on the work completion date sworn to in their respective mechanics lien claims and reaffirmed under oath in various court filings.
Play it as it lies: Dealing with unlawful judgment by confession clauses
In the game of golf, the ball should be played from where the player finds it without any improvement to the situation; the same should occur if a court finds itself dealing with parties to an unlawful confession of judgment clause, which is to leave the parties where it finds them. Play it as it lies.
Reviving dormant judgments in Illinois
If you are a banker or an attorney representing banks, now is an excellent time to revisit your drawer or spreadsheet of judgments to see if they are worth more than the paper they are printed on.