Paul Porvaznik – Business Litigator
Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)
The Illinois Commercial Real Estate Broker’s Lien Act, 770 ILCS 15/1 (the “Act”), provides a broker whose owed commission money with a strong remedy against a breaching property owner, buyer or tenant. Here are some of the Act’s key provisions: 1. What It Applies To: “Commercial real estate.” This is defined as any real estate in Illinois other than (i) real …
Continue reading “The Illinois Commercial Real Estate Broker’s Lien Statute: A Top 10 List”
It’s easy to robotically parrot the “beneficial interest in a land trust is personal property” rule but First Clover Leaf Bank v. Bank of Edwarsville, 2014 WL 6612947 (5th Dist. 2014) actually examines the rule’s impact against the factual backdrop of a judgment creditor trying to lien a debtor’s residence. The creditor plaintiff obtained a $400,000-plus judgment …
Getting a judgment against an LLC member can trigger a high-anxiety response. That’s because the normal post-judgment collection rules set out in Code Section 2-1402 and Supreme Court Rule 277 don’t cleanly apply. Section 30-20 of the LLC Act (805 ILCS 180/30-20) states that a creditor’s exclusive remedy is to obtain a “charging order” against the LLC member’s …
Continue reading “All About Charging Orders – When the Judgment Debtor Is an LLC Member”