American Chartered Bank v. Cameron. 2014 IL App (1st) 132231-U, an unpublished First District case, glaringly illustrates the difficulty of defeating a lender’s breach of guaranty claim when the defenses are based on the lender’s oral promises. The case also sheds light on the nature of the borrower-lender relationship and the contours of the unclean hands …
Author Archives: PaulP
All About Charging Orders – When the Judgment Debtor Is an LLC Member
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 …
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Contractors’ Honest Mistake in Lien Completion Date And Amounts Doesn’t Doom Mechanic’s Lien Case (IL Law)
The First District recently validated the mechanics liens of two “ma and pa” construction companies against a competing lienholder’s argument that the liens contained a flawed completion date and an exaggerated lien amount. North Shore Community Bank v. Sheffield Wellington LLC, 2014 IL App (1st) 123784 is a priority dispute between mortgage lenders and mechanics …