The ISBA Assembly unanimously approved a resolution in support of the celebration of the 800th Anniversary of the Magna Carta on Saturday, Dec. 13 during the Joint Midyear Meeting in Chicago. The resolution was brought forth by ISBA Governor Stephen M. Komie.

The text of the resolution is available here and below:

ASSEMBLY

ILLINOIS STATE BAR ASSOCIATION

MIDYEAR MEETING

A Resolution in Support of Celebrating the 800^th Anniversary of the Magna Carta

WHEREAS, Magna Carta (Latin; "Great Charter"), also called Magna Carta Libertatum or The Great Charter of the Liberties of England, is an Angevin charter originally issued in Latin;

WHEREAS, on June 15, 1215, at Runnymede on the banks of the River Thames near Windsor, England, King John affixed his seal to Magna Carta. King John confronted by 40 rebellious barons at the point of a sword consented to their demands in order to avert civil war. However, just 10 weeks later, Pope Innocent III nullified the agreement, and England plunged into internal war. Although Magna Carta failed to resolve the conflict between King John and his barons, it was reissued several times after his death;

"As advocates fearful of court rebuke or sanction, Illinois lawyers normally play by the procedural rules, not citing Rule 23 orders even when such an order would be helpful to their case." So writes Robert T. Park in the latest issue of Trial Briefs, newsletter of the ISBA Civil Practice & Procedure Section.

So what about In re Estate of LaPlume? There, Park writes, the appellate court cited a Rule 23 order while "carefully stating that it was not relying on that order as precedent but still quoting from it and using its holding to bolster the correctness of its disposition of the case before it."

Park sees LaPlume as more support for the argument that Rule 23 be amended. "There is no sound reason why a litigant or judge can cite a federal trial court decisions from North Dakota or Alaska, as found in West’s Federal Supplement, or any sister state’s appellate decisions but is not allowed to cite an Illinois Rule 23 appellate order, even one that is on point and potentially dispositive." Read his article.

Asked and Answered

By John W. Olmstead, MBA, Ph.D, CMC

Q. John, where do you begin to get a value on a family law practice? It seems that one times gross revenue is unfair since it is usually one time business. I saw you speak at an ISBA event and this question was not addressed.

A. Regarding your question - it sort of depends on whether you are buying or selling and where you want to start. In general, I agree with you that a multiple of one times gross for a family law practice is probably high. It depends on whether the practice has built up more of a firm brand vs. an individual brand. In other words institutionalized the practice. Also on where and how the firm gets business - advertising, referral sources, etc. A firm that has practice (institutional) goodwill might very well start at a multiple of one whereas a practice where the goodwill is personal goodwill the multiple might be .75 or less - in some cases even zero. I know of a few family law practices in the Chicago area that have been sold for .33 of gross revenue. 

Often the initial asking price has little to do with regard to where you end up. Often, due to the concern that the clients and business might not materialize for the new buyer many firms are sold on various forms of an "earn-out" or a small payment at closing with the remainder paid and based on a percentage of revenues collected over a period of time - 3 to 5 years.

I have seen PI and other one shot matter firms sell for one times gross revenues but this is a best case scenario. CPA firms fare much better.

Chief Justice Rita B. Garman of the Illinois Supreme Court and Chief Judge Timothy C. Evans of Cook County Circuit Court announced Tuesday that media cameras soon will be allowed in some Cook County criminal courtrooms.

Chief Justice Garman said that the Supreme Court has given its approval for the Cook County Circuit  Court to become part of a pilot program already being implemented in 40 other counties in Illinois.

Effective Monday, January 5, 2015, the media will be allowed to video and audio record proceedings at the George N. Leighton Criminal Court Building at 26th Street and California Avenue in Chicago in accordance with procedures contained in the Illinois Supreme Court Policy on Extended Media Coverage and a new local Circuit Court rule promulgated by Chief Judge Evans.

“The opening of Cook County criminal courtrooms to media cameras is a significant and very welcome step in our efforts to bring greater transparency to the judicial process, while protecting the rights of the accused, witnesses, and jurors," Chief Justice Garman said. "The experience with media coverage in other judicial circuits has been overwhelmingly positive, and it is time to extend the pilot program to the most populous county in the state.

The Illinois Supreme Court announced Monday that Jodi Melinda Hoos has been appointed Resident Circuit Judge of Peoria County, 10th Judicial Circuit. This vacancy was created by the retirement of the Hon. Michael E. Brandt. it is effective Dec. 29, 2014 and terminates on Dec. 5, 2016.

Sign-up Today (Dec. 15) for January 1 Coverage.

Enrollment is now open for health insurance under the Affordable Care Act (ACA). Compare available plans to secure a solution that strikes the best balance between coverage and affordability.

As an ISBA member, you can do this confidently and conveniently in minutes. There is no additional cost to take advantage of this service.

NEW! ISBA has established a relationship with Mercer Marketplace*, providing a unique individual insurance solution available to you through the insurance broker GetInsured. Explore ACA-compliant plans in your area with the company that administers public health insurance exchanges.

Specify what you need in health care coverage and get a list of all plans that are scored for:

• Overall Suitability
• Monthly Cost
• Estimated Out-of-Pocket Expense (Deductibles/Copays)
• Which Services Are Covered
• Which Doctors Participate

When you select your plan, you’re just steps away from finalizing coverage. TO ENROLL, follow instructions for your selected plan,contact a licensed GetInsured agent (866-454-5177), or visit www.getinsured.com/isba.

The Joint Midyear Meeting hosted by the Illinois State Bar Association and Illinois Judges Association kicked off Thursday afternoon with the Opening Reception at the Sheraton Chicago Hotel & Towers. Highlights on Friday include the sold out luncheon featuring U.S. Attorney General Eric Holder and the Supreme Court Dinner featuring Illinois Supreme Court Justice Robert Thomas.

View the full schedule at www.isba.org/jointmeeting

View pictures from the Opening Reception at iln.isba.org/gallery/834/midyear-meeting-2014-opening-reception