Paul Porvaznik – Business Litigator
Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)
Illinois’ First District provides an exhaustive analysis of liquidated damage principles in GK Development, Inc. v. Iowa Malls Financing Corporation, 2013 IL App (1st) 112802. Here are some useful bullets: In Illinois, contracting parties are free to pre-set damage amounts; but only at an amount that is reasonable in the light of the anticipated or actual loss caused …
Continue reading “Illinois Court Gives Liquidated Damages Tutorial in Shopping Center Spat”
“A landlord left without an adequate remedy following breach of the lease by a tenant has only itself to blame for entering into a lease that fails to provide such a remedy.” 275 West Washington Street Corp. v. Hudson River Intern., LLC, 987 N.E.2d 194 (2013). The case: 275 Washington Street Corp. v. Hudson …
Continue reading “Landlord’s Termination of Lease Precludes Future Damages”