Law Blog
What to do When You See Your Borrower in Trouble
As close as you may monitor your debtors or borrowers, you may be surprised when you learn that a debtor or borrower is in financial distress. Some of the steps to take to prevent your borrower or debtor’s financial distress from becoming yours include: Reconsidering...
Negative Pledge in Loan Documents
While it is always important to read and understand the contracts you sign, loan documents, particularly those that look to be the lender’s printed “standard form” can contain hidden provisions. While a loan may say its “unsecured,” not constituting a lien on your...
Illinois Employer Obligations List
Even the smallest Illinois employers are faced with complying with a myriad of state and federal employment laws, including: No age, race, sex, color, religion, sexual orientation or pregnancy discrimination (All) Providing equal employment opportunities without...
International Business and Terrorism
The recent U.S fine imposed on a French company pursuant to the Anti-Terrorism Act, 18 USC §2339 B et seq., for its payments to a terrorist organization that controlled the area where its cement factory was located in order to keep it operating, is a warning to all...
Plan Your Business/Investment Exit
Like a parent preparing an estate plan or an engaged couple preparing a pre-nuptial agreement, when you start or invest in a business you should have an exit plan. Deaths, disabilities, retirements or just the passage of time can create the need for substantial...
Notice to Your Insurance Carrier
A recent rash of court rulings highlight the need to give all of your insurance carriers timely, complete, accurate and documented notice of a lawsuit, claim or potential claim in order to ensure you are entitled to the carrier’s defense and coverage that you paid...
Avoiding Personal Liability for your Partner’s Actions
Whenever you are in business with another person or you employ other persons in your business, you expose your personal assets to claims by parties that may be harmed by the actions or omissions of those other people. If not addressed before the liability occurs, the...
Illinois Personnel Records Review Act
Illinois law, 820 ILCS 40 et seq., obligates employers to timely provide on the demand of any employee or a former employee within one year of termination, an opportunity to review and obtain copies of any personnel file maintained on that employee relating to his...
