Paul Porvaznik – Business Litigator
Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)
A law firm’s failure to scrutinize its client’s transfer of property to a land trust backfired in Radiance v. Accurate Steel, 2018 WL 1394036. The case presents a priority fight between the plaintiff judgment creditor and the law firm who defended the debtor in post-judgment proceedings. The Relevant Chronology August 2013 – Defendant debtor transferred …
Continue reading “Judgment Creditor and Debtor’s Lawyers Duke It Out Over Equity in Home – ND IL”
Priority disputes happen a lot in mechanics’ lien litigation. Typically, a mortgage lender claims that its first-filed mortgage trumps a later-filed mechanics lien. The “trumps” part is activated if and when the property is sold and there aren’t enough proceeds to pay both the lender and contractor. If the lender’s mortgage has priority, it gets first dibs on the sale proceeds, leaving the …