Kosowski v. Alberts, 2017 IL App (1st) 170622 – U, examines some signature commercial litigation remedies against the factual backdrop of a business loan default. The plaintiffs, decades-long business partners in the printing and direct mail industry, borrowed money under a written loan agreement that gave the lender wide-ranging remedies upon the borrowers’ default. Plaintiffs …
Tag Archives: business torts
Binding LLC to Operating Agreement A Substantive Change in Illinois Law; No Retroactive Effect – IL Court
The summer of 2017 ushered in a slew of changes, to Illinois’ limited liability company statute, 805 ILCS 180/15-1 et seq. (the “Act”). Some of the key Act amendments included clarifying LLC member rights to access company records, explaining if and when a member or manager’s fiduciary duties can be eliminated or reduced, tweaking the …
Truth Is Defense to Employee Intentional Interference With Contract Suit – IL Court
The Illinois First District recently discussed the contours of pre-suit discovery requests in cases that implicate fee speech concerns and whether truthful information can ever support an intentional interference with employment claim. After relocating from another state to take a compliance role with a large bank, the plaintiff in Calabro v. Northern Trust …