Section Newsletters

Articles on commercial banking

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.
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.
Credit card issuing banks have no common law remedies against a retail merchant with a data security breach By Michael L. Weissman Commercial Banking, Collections, and Bankruptcy, August 2018 The U.S. Court of Appeals for the Seventh Circuit recently handed down a significant decision in Community Bank of Trenton v. Schnuck Markets, Inc., which involved the purported liability of a retail merchant to credit card issuing banks in the face of a data security breach.
Whose law is it? By Samuel H. Levine Commercial Banking, Collections, and Bankruptcy, August 2018 Two recent cases, Z.B., NA v. Hoeller and Bonita Real Estate v. SLF IV Lending, attempt to answer which law governs a deficiency when the choice-of-law provisions in the promissory note and mortgage are in conflict.
Oh, those old cases—How they haunt you By Thomas F. Hartzell Commercial Banking, Collections, and Bankruptcy, December 2002 We were recently involved in a mechanics lien case where we represented the plaintiff lumber company against the owner of the real estate, his contractor and the bank as mortgagee.
Update by banking committee By Timothy J. Howard Commercial Banking, Collections, and Bankruptcy, December 2002 This is a case that seeks to shift the responsibility of errant employees to banks instead of their employers.
Enforceablilty of intercreditor agreements in bankruptcy By John C. Murray Commercial Banking, Collections, and Bankruptcy, August 2002 A recent Illinois bankruptcy court decision, In re 203 N. LaSalle Street Partnership, 246 B.R. 325 (Bankr. N.D. Ill. 2000), deals specifically with the rights of parties to an intercreditor agreement.
Payable on death accounts By Bradley W. Small Commercial Banking, Collections, and Bankruptcy, May 2002 Effective January 1, 2002, legislation was enacted providing that payable on death accounts may be held in the names of joint account holders
Perfecting and enforcing a security interest in an option to purchase real estate By John C. Murray Commercial Banking, Collections, and Bankruptcy, May 2002 If a person or entity acquires an option from the owner of a parcel (or parcels) of real estate to purchase such real estate, is the optionee's interest personal property or real property
Securing the right to receive government payments under revised article 9 By Jeffrey A. Mollet Commercial Banking, Collections, and Bankruptcy, May 2002 Whether a security interest in government program payments is perfected has always been at the center of debate, generally in the bankruptcy or "farmer-in-distress" context, and the issue remains largely unresolved by the recent revisions to Article 9 of the Illinois Uniform Commercial code which took effect on July 1, 2001
Does UPL by in-house counsel really waive the attorney-client privilege? By Michael Todd Scott Commercial Banking, Collections, and Bankruptcy, March 2002 In the June 2000 issue of The Corporate Lawyer, we ran an article entitled "Unauthorized Practice of Law and In-house Counsel."
Can a Chapter 7 debtor’s attorney be compensated from the bankruptcy estate? By Jeffrey D. Richardson Commercial Banking, Collections, and Bankruptcy, February 2002 Like many issues in bankruptcy law the answer to the question of whether a debtor's Chapter 7 bankruptcy attorney can be compensated from the bankruptcy estate depends on whether you try to determine the purely logical answer to the question or whether you refer to the actual statute
SBA is still approving credits By Lewis F. Matuszewich Commercial Banking, Collections, and Bankruptcy, February 2002 The United States Small Business Administration (SBA) continues to administer many programs designed to assists small and middle size businesses.

Select a Different Subject