Section Newsletters

Articles on commercial banking

Supreme Court Clarifies That Courts Must Stay Rather than Dismiss Cases Referred to Arbitration By Stephen I. Lane Commercial Banking, Collections, and Bankruptcy, October 2024 In Smith v. Spizzirri, a court cannot deny a party's request for a stay pending arbitration and dismiss the case. Section 3 of the FAA compels the court to issue a stay.
Update on Artificial Intelligence in the Illinois Courts By Hon. Michael J. Chmiel Commercial Banking, Collections, and Bankruptcy, October 2024 To some extent, the fury involved with Artificial Intelligence has slowed, but be advised AI continues to evolve and impact the fray of legal practice in Illinois and beyond.
Welcome to the Fall of 2024 By Hon. Michael J. Chmiel Commercial Banking, Collections, and Bankruptcy, October 2024 A note from the editor. 
What Is the Judicial Performance Evaluation Program?: Insights From a Facilitator By Mitchell L. Hoffman Commercial Banking, Collections, and Bankruptcy, October 2024 Under the Illinois Supreme Court program for mandatory judicial evaluation, judges are confidentially evaluated by the attorneys who appear before them and the court staff who serve in their courtrooms
Bank Class Action Developments: Latest Wave Targets Fees for Returned Third-Party Checks By Gregory D. Omer Commercial Banking, Collections, and Bankruptcy, June 2024 Three large Wall Street banks have all been sued recently over charging the same type of fees to customers for depositing checks that are later returned.
How Can ODR Help Courts in Illinois? By Judge Michael Chmiel Commercial Banking, Collections, and Bankruptcy, June 2024 With the assistance of ChatGPT, the author invesetigates the ways online dispute resolution can advance the cause of the rule of law and access to justice in Illinois.
Appeal of Mortgage Foreclosure Case Where Property Is Sold to Third Party Who Was Not a Party to the Litigation Is Moot Unless the Appellant Previously Obtained a Stay of the Trial Court’s Judgment By Kevin J. Stine Commercial Banking, Collections, and Bankruptcy, May 2024 In PHH Mortgage Corp.v. Restrepo, the appellate court determined that defendant's petition for relief from judgment that sought to vacate both the judgment of foreclosure and the order confirming the sheriff's sale of defendant's home were moot and barred because the subject property had been sold to an unrelated third party purchaser and defendant had not obtained a stay of the trial court's order confirming the sale within the time frame allowed for filing an appeal from that order.
Trial Court Can Enter a Nunc Pro Tunc Order More than 30 Days After Final Judgment Is Entered to Correct a Mistake or Clerical Error if Proper Notice of the Motion Is Given to All Parties By Kevin J. Stine Commercial Banking, Collections, and Bankruptcy, May 2024 In SMS Financial Recovery Services, LLC v. Rodriguez, the court of appeals determined that a trial court can enter a nunc pro tunc order more than 30 days after final judgment is entered to correct a mistake or clerical error as long as proper notice of the motion is given to all parties.
Celsius Cryptocurrency Woes: Bad News for Those Whose Cryptocurrency Is Trapped in the Estate, Could Be Worse for Those Who Think They’ve Escaped By Ronald A. Spinner Commercial Banking, Collections, and Bankruptcy, April 2023 A summary and analysis of In re Celsius Network LLC, et al.
Here Comes the Sun By Judge Michael Chmiel Commercial Banking, Collections, and Bankruptcy, April 2023 An introduction to the issue from the editor.
The Use of Artificial Intelligence in Commercial Litigation By Judge Michael Chmiel Commercial Banking, Collections, and Bankruptcy, April 2023 The use of artificial intelligence in the legal industry has been on the rise in recent years and has been particularly useful in commercial litigation.
If the Dress Fits, You Must Acquit: A Trial Lawyer’s Tale By Julia Jensen Smolka Commercial Banking, Collections, and Bankruptcy, February 2023 A member of the section council shares a memorable case that went to trial.
Obligations of a Dissolved Corporation Versus a Dissolved LLC By Douglas C. Giese Commercial Banking, Collections, and Bankruptcy, February 2023 An overview of how Illinois law addresses the dissolution of different business entities.
Personal Injury Plaintiff Fails to Disclose Lawsuit in Chapter 13 Bankruptcy Petition By Robert Handley Commercial Banking, Collections, and Bankruptcy, February 2023 A summary and analysis of Duniver v. Clark Material Handling Co., et al.
Repair Service Providers and the Labor and Storage Lien (Small Amount) Act By Dominic G. Erbacci Commercial Banking, Collections, and Bankruptcy, February 2023 The Illinois Labor and Storage Lien Act gives a business the right to sell an item at a public or private sale and keep the proceeds.
Assignment of Promissory Note Includes Assignment of Continuing Guaranty By Kevin Stine Commercial Banking, Collections, and Bankruptcy, November 2022 In Amos Financial, LLC v. Szydlowski, the trial court entered summary judgment in favor of a creditor enforcing a promissory note guarantee. The appellate court affirmed.
Service of Third-Party Citation to Discover Assets Via Email Is Not Effective By Kevin Stine Commercial Banking, Collections, and Bankruptcy, November 2022 In Midwest Commercial Funding, LLC v. Kelly, the appellate court determined that service of a third-party citation to discover assets was not effective when sent via email.
Bank Loses Claim to Collateral By Michael Weissman Commercial Banking, Collections, and Bankruptcy, July 2022 Although after-acquired personal property collateral can be included in a bank's collateral by using an after-acquired clause in the collateral description, that is not true of real estate. 
Can a Wire Transfer Be Recalled After It Is Accepted? By Michael Weissman Real Estate Law, July 2022 In a case involving the Uniform Commercial Code, decided by the United States District Court for the Eastern District of Virginia in September 2021, the court was called upon to decide when an accepted payment order may be canceled.
Bank’s UCC Liens Trump Wage Claims in Federal Receivership By Michael Weissman Commercial Banking, Collections, and Bankruptcy, May 2022 Even though courts are generally sympathetic to wage claims of employees of insolvent borrowers, they will not use state statutory law to subordinate earlier-perfected security interests in the borrower’s assets to those wage claims unless the state law clearly grants the wage claims a lien priority position.
Can a Wire Transfer Be Recalled After It Is Accepted? By Michael Weissman Commercial Banking, Collections, and Bankruptcy, May 2022 In a case involving the Uniform Commercial Code, decided by the United States District Court for the Eastern District of Virginia in September 2021, the court was called upon to decide when an accepted payment order may be canceled.
Time Standards Are Here for Cases in Illinois Courts By Judge Michael Chmiel Commercial Banking, Collections, and Bankruptcy, May 2022 On March 25, 2022, the Supreme Court of Illinois entered an order which will (should) change the handling of cases in the circuit courts of Illinois.
Time Standards Are Here for Cases in Illinois Courts By Judge Michael Chmiel Bench and Bar, May 2022 On March 25, 2022, the Supreme Court of Illinois entered an order which will (should) change the handling of cases in the circuit courts of Illinois.
When Does a Denial Create a Question of Fact? Eviction vs. Non-Eviction Standards By Adam B. Whiteman Real Estate Law, April 2022 A defendant in an eviction case has two opportunities to create a question of fact—the first in the pleadings, the second at the eviction hearing.
Bank Not Liable Under the Statute of Frauds By Michael Weissman Commercial Banking, Collections, and Bankruptcy, March 2022 In Modern Industries, Inc., vs. Oxford Bank Corp., the claimants sued the bank for alleged negligence in unilaterally changing the terms of certain loans in violation of the parties’ agreement, breach of fiduciary duty by failing to properly distribute loans, and engaging in in constructive fraud and misrepresentation by waiting to disclose unilateral changes to the final loan documents until the claimants were left with no choice except to close the loans.
When Does a Denial Create a Question of Fact? Eviction vs. Non-Eviction Standards By Adam B. Whiteman Commercial Banking, Collections, and Bankruptcy, March 2022 A defendant in an eviction case has two opportunities to create a question of fact—the first in the pleadings, the second at the eviction hearing.
Allonge Enables Bank to Enforce Note By Michael Weissman Commercial Banking, Collections, and Bankruptcy, January 2022 When all or a portion of a bank’s loan portfolio is transferred, it is not uncommon to use allonges as instruments of transfer.
IRA Accounts Can Stand as Collateral, Cannot Be Liquidated Without Recourse By Michael Weissman Commercial Banking, Collections, and Bankruptcy, January 2022 A summary and analysis of Cassidy v. Signature Bank, in which the use and availability of IRA accounts to satisfy a debt was at issue.
Consumer Fraud in a Dispute Between Two Businesses: Is It a Thing? By Adam B. Whiteman Commercial Banking, Collections, and Bankruptcy, May 2021 One business can sue another for consumer fraud if the allegation involves conduct where one business publishes false statements about another business to consumers.
Bank Suffers Wire Transfer Trauma By Michael Weissman Commercial Banking, Collections, and Bankruptcy, April 2021 A summary and analysis of In re Citibank August 11, 2020 Wire Transfers.

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