Paul Porvaznik – Business Litigator
Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)
Contract rights are assigned fairly often, especially in the mortgage loan and credit card contexts. In the former mortgage scenario, it’s common for a promissory note to be assigned multiple times during the note’s lifespan. When there’s eventually a note default, it becomes a challenge for the noteholder to trace how it came into the …
Continue reading “Assigning A Breach of Contract Claim In Illinois and The Available Defenses”
The interplay between Federal Rules of Evidence 1006 (summaries) and 803(6)(business records) is examined by the 11th Circuit Court of Appeals in In re International Management Associates, LLC, 2015 WL 1245503 (C.A.11 Ga.), a case where a trustee was able to admit a summary of bulky business records into evidence and avoid a $200K transfer …
The Northern District of Illinois recently denied a foreign truck parts supplier’s claim for lost profits in a contract dispute involving an Illinois-based global truck manufacturer. In doing so, the court expansively applied the “new business rule” to the plaintiff despite its forty-year history in the automotive parts industry. In Clutch v. Navistar, 2015 WL …
Continue reading “Lost Profits and the ‘New Business Rule’ – A Case Snapshot”