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25 results found


Franczek Radelet PC | USA | 15 Aug 2011

Explaining how certain tax incentive programs work

Over the past few months the media has reported extensively on the State’s use of tax incentives to induce high-profile companies to remain in Illinois and not depart for other locales courting these businesses and the many jobs they sustain.


Reed Smith LLP | USA | 15 Jun 2011

Priming lien approved: new loan use would benefit the estate debtor’s sizable equity cushion adequate assurance

The single-asset chapter 11 debtor sought approval from the Bankruptcy Court to borrow funds from a new lender, and grant the new lender superpriority status over the liens of the debtor’s pre-petition secured lender.


Squire Patton Boggs | USA | 6 Apr 2011

River Road court certifies direct appeal to the Seventh Circuit Court of Appeals on credit bid issue

On November 4, 2010, the United States Bankruptcy Court for the Northern District of Illinois certified the appeal of debtors River Road Hotel Partners, LLC, et al. of the court’s Order Denying Debtors’ Bid Procedures Motion (the Order) entered October 5, 2010.


Proskauer Rose LLP | USA | 6 Jan 2011

Illinois passes law regulating use of credit information in employment decisions

Illinois law now prohibits most employers from using credit history or a credit report in any employment decision.


Chadbourne & Parke LLP | USA | 21 Dec 2010

Lender’s public statements support borrower’s commercial impracticability defense

An action to recover payment on a defaulted loan recently brought renewed vitality to the affirmative defense of commercial impracticability.


Ogletree Deakins | USA | 17 Dec 2010

New credit history law goes into effect January 1

Effective January 1, 2011, Illinois employers who perform background checks or otherwise inquire about credit history as part of the recruitment process or in making other employment decisions must comply with the Illinois Employee Credit Privacy Act (IECPA), which generally prohibits inquiry into and consideration of an applicant or employee's credit history to make decisions concerning employment, including with respect to recruiting, discharge, compensation and other terms and conditions of employment.


Reed Smith LLP | USA | 1 Dec 2010

Credit bidding cannot be prohibited the recent decision in River Road Hotel Partners

In the River Road Hotel Partners, LLC chapter 11 proceeding, a bankruptcy judge in the Northern District of Illinois rejected an attempt to restrict the secured lender’s ability to credit bid at a sale of the debtors’ assets.


Haynes and Boone LLP | USA | 13 Oct 2010

Court ruling won't allow secured creditors to be shut out by crafty bid procedures

On October 5, 2010, Judge Bruce Black of the United States Bankruptcy Court for the Northern District of Illinois (the “Bankruptcy Court”) issued a ruling in the River Road Hotel Partner LLC, et. al. (the “Debtors”) bankruptcy cases denying the Debtors’ bid procedures motion incident to plan confirmation.


Ballard Spahr LLP | USA | 13 Oct 2010

Illinois State Appellate Court: EFT authorization must be disclosed as security interest under TILA

A recent decision of the Illinois Appellate Court could affect consumer lenders who obtain authorizations from their borrowers for loan payments to be made through electronic fund transfers (EFTs).


Epstein Becker Green | USA | 12 Oct 2010

Beware of the newly enacted Illinois Employee Credit Privacy Act

Illinois recently enacted the Employee Credit Privacy Act.

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