Section Newsletters

Articles on commercial banking

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.
View from the chair By Gary T. Rafool Commercial Banking, Collections, and Bankruptcy, February 2002 There has been a lot of discussion lately on unauthorized practice of law (UPL) by in-house counsel.
Appellate court protects guarantor in dispute over collateral proceeds By Jeffrey D. Cavanaugh Commercial Banking, Collections, and Bankruptcy, November 2001 In an opinion issued in September, an Illinois appellate court concluded that a bank breached its obligation to a guarantor when the bank used proceeds from the sale of collateral to pay off an unsecured loan that was not covered by the guaranty.
Illinois Supreme Court overturns decision against mortgage lender By Jeffrey D. Cavanaugh Commercial Banking, Collections, and Bankruptcy, November 2001 In Voyles v. Sandia Mortgage Corporation (2nd District; 1999), an Illinois appellate court ruled that a mortgage company ("Lender") could be held liable for refusing to accept mortgage payments when the amount of those payments was in dispute and for subsequently reporting negative credit information as a result of the Lender's refusal to accept the tendered payments.
Predatory lending—a perspective for the mortgage attorney By Celeste M. Hammond Commercial Banking, Collections, and Bankruptcy, November 2001 Predatory lending practices are getting a tremendous amount of attention: in the press, in the title industry; in the mortgage banker industry; in the consumer industry; in Congress, state and local governments.
Signed sales receipt can document purchase money security interest By Jeffrey D. Cavanaugh Commercial Banking, Collections, and Bankruptcy, November 2001 An Illinois Appellate Court recently determined that a credit card sales receipt signed by the borrower can adequately document a purchase money security interest in the goods purchased.
View from the chair By Gary T. Rafool Commercial Banking, Collections, and Bankruptcy, November 2001 The second meeting of our Section Council was held on Saturday, August 18, at the Par-A-Dice Casino Hotel in East Peoria.
Alternative dispute resolution in bankruptcy By Erwin I. Katz Commercial Banking, Collections, and Bankruptcy, July 2001 The use of alternative dispute resolution (ADR), once unknown in the bankruptcy context, has increased exponentially over the past 10 years.
Brush up your Latin—“nemo dat qui non habet” By Janice M. Powell Commercial Banking, Collections, and Bankruptcy, July 2001 The Tenth Circuit Court of Appeals has just reminded practitioners that we remain a country of common law and that includes long cherished principles expressed in Latin.
Collecting on judgments is not for the feeble at heart By Maureseta T. Hawkins Commercial Banking, Collections, and Bankruptcy, July 2001 After ten years of chasing behind a debtor, a former estate attorney, to collect on judgments which were awarded based on his misappropriation of estate assets, relief was finally awarded by the Illinois Appellate Court after this debtor managed to evade and wear out the original creditors who subsequently sold the judgments to the plaintiff in this case.
Foreclosure defenses By James E. Buchmiller Commercial Banking, Collections, and Bankruptcy, July 2001 Sometimes there is an inclination to assume that if the basic note and mortgage are properly executed that there is no real defense to a real estate foreclosure.
View from the chair By Gary T. Rafool Commercial Banking, Collections, and Bankruptcy, July 2001 This is a new feature for our newsletter which will be written by me as chair of the section council during the coming year.
“Mortgagee in possession”—watch your language Commercial Banking, Collections, and Bankruptcy, April 2001 Prepared forms do not always have necessary language.
SBA reauthorization and budget for FY 2001 By Lewis F. Matuszewich Commercial Banking, Collections, and Bankruptcy, April 2001 New legislation signed into law just before year-end provides a near-historic level of funding support for U.S. Small Business Administration (SBA) programs, and authorizes a New Markets Venture Capital program to invest in small businesses in low-income areas.
Seventh circuit affirms that banks have no duty to disclose existence of check kiting scheme By Timothy J. Howard Commercial Banking, Collections, and Bankruptcy, April 2001 The Seventh Circuit Court of Appeals recently affirmed a Central Illinois District Court grant of summary judgment by following the majority rule that subject to four exceptions, "a bank has no good faith obligation to disclose a suspected kite or to refrain from attempting to shift the kite loss.
Bank counsel and the Bank Secrecy Act By Bradley W. Small Commercial Banking, Collections, and Bankruptcy, January 2001 As president of a national bank and an attorney, I recently received a phone call from the Office of the Comptroller of the Currency (OCC) concerning my bank's compliance with the Bank Secrecy Act (BSA).
Calling all government attorneys Commercial Banking, Collections, and Bankruptcy, January 2001 The ISBA's Standing Committee on Government Lawyers wants to include you in its constituency.
Does a chapter 7 debtor have an absolute right to convert to another chapter? By Jeffrey D. Richardson Commercial Banking, Collections, and Bankruptcy, January 2001 Section 706 of the Bankruptcy Code provides that a chapter 7 debtor "may convert a case under this chapter to a case under chapter 11, 12 or 13 of this title at any time, if the case has not been converted" from another chapter previously. 11 U.S.C. sec. 706(a).
Revised Article 9 and the growth of structured financing By Kristin Mihelic Commercial Banking, Collections, and Bankruptcy, January 2001 Securitization is an underutilized resource for smaller companies seeking low cost funding.
Amendments to the bankruptcy rules to become effective December 1, 2000 unless Congress acts By Wesley H. Avery Commercial Banking, Collections, and Bankruptcy, November 2000 On April 17 the U.S. Supreme Court issued proposed amendments to the Federal Rules of Bankruptcy Procedure and ordered that they be transmitted to Congress.
Consumer “cross-collateralization” clauses held enforceable by the U.S. Fifth Circuit By Joseph P. Chamley Commercial Banking, Collections, and Bankruptcy, November 2000 The United States Court of Appeals for the Fifth Circuit has ruled that a "cross-collateralization for future advances" clause in a consumer transaction is enforceable.
Commercial loan not permissible purpose for credit report By Sandra M. Traicoff Commercial Banking, Collections, and Bankruptcy, October 2000 The Federal Trade Commission ("FTC") recently issued a staff interpretative opinion letter that concludes there is no permissible purpose under the Fair Credit Reporting Act ("FCRA") for a business lender to obtain a consumer report on an individual who is a principal, owner or officer of a business loan applicant or who signs a personal guarantee in connection with a business loan
Two approaches to actions for breach of the implied covenant of good faith and fair dealing: where are we going? By Kristin Mihelic Commercial Banking, Collections, and Bankruptcy, October 2000 The implied covenant of good faith and fair dealing (implied covenant) is present in every contract entered into in Illinois
Selected issues in oil and gas bankruptcy cases By David W. Elmquist Commercial Banking, Collections, and Bankruptcy, August 2000 Following the downturn in the oil and gas industry and the bankruptcy cases filed in the late 1980's, there have been only a few bankruptcy decisions and statutory amendments to the Bankruptcy Code which have addressed oil and gas issues
Community Reinvestment Act By Lewis F. Matuszewich & Benjamin P. Shapiro Commercial Banking, Collections, and Bankruptcy, July 2000 The Financial Modernization Act ("FMA") was signed into law in November, 1999.
Adoption of UCC revised Article 9 in Illinois By Robert T. Bruegge & Stephen Olson Commercial Banking, Collections, and Bankruptcy, April 2000 The 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 certiorari By Timothy J. Howard Commercial Banking, Collections, and Bankruptcy, March 2000 On 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).

Select a Different Subject