Paul Porvaznik – Business Litigator
Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)
The limited guarantor won big in Ringgold Capital IV, LLC v. Finley, 2013 IL App (1st) 121702, a case that vividly captures how important it is for a lender to correctly document a loan. After a borrower defaulted on the underlying loan, the plaintiff sued to foreclose its mortgage and on the guaranty. The trial court dismissed …
Continue reading “Integration Clause, Justifiable Reliance and Limited Guaranties: IL Basics”
ThyssenKrupp Elevator Corporation v. Hubbard, 2013 WL 3242380 (M.D. Fla 2013) considers whether a company that buys the assets of another can enforce the purchased company’s non-compete agreements. The defendant was an elevator salesman for a company that was bought by the plaintiff. an elevator company. The defendant previously signed a non-disclosure (involving intellectual property), …
Continue reading “Third Party Corporation Can Enforce Non-Compete After Stock Purchase”
In TEKsystems, Inc. v. Lajiness, 2013 WL 3389062 (N.D.Ill. 2013), the Northern District of Illinois, applying Maryland law (due to a contractual choice of law provision), upheld a 50 mile/18 month restrictive covenant in a recruiter’s employment contract. The plaintiff employer sued one of its former recruiters for violating a non-compete provision contained in a …