Author Archives: Andrew R. Schwartz
Fraudulent Transfer Questions Cast Doubt on Oxycontin Settlement
A tentative settlement involving Purdue Pharma, the maker of Oxycontin, received great fanfare in the media, with the company claiming that it will pay at least $10 billion “to address the opioid crisis.” That figure may seem astronomical, but critics and the attorneys general of numerous states say the agreement rests on misrepresentations about the […]
Court Bars Business Oppression Even Though Shareholders Were in Litigation
Business oppression occurs when the shareholder majority exercises its voting power to abuse the ownership rights of the minority. A lawsuit alleging such abuse is a disruptive event that forever changes the relationship among shareholders. However, it does not end the parties’ fiduciary responsibilities to the company, or to others with a stake in the […]
Pension Intercept Requested for East St. Louis Firefighters’ Fund
For the third time since enactment of the Illinois pension intercept law, a municipal employee pension board seeks to have city monies redirected to replenish long-neglected funds. This time, the East St. Louis Firefighters Pension Fund asks state Comptroller Susana Mendoza to intercept more than $2 million originally slated for the city’s budget. A January […]
Understanding Creditors’ Options When Enforcing Judgments
Whether you’ve won a legal case, performed professional services or leased commercial property to a tenant, collecting the payment often proves to be the toughest part of the task. Even for undisputed debts, strict laws exist to ensure that creditors use proper legal collection methods. This is particularly true in complex debt collection matters and […]
Business Oppression Case Divides Family-Owned Construction Company
A major construction company with Illinois roots has demonstrated that serious “business oppression” conflicts can happen even in family-run businesses. As in many of these situations, allegations of fiduciary breaches and oppression of minority shareholders have triggered litigation and driven apart individuals who once enjoyed a close relationship. Payne & Dolan is a Wisconsin-based business […]
Chicago Police and Fire Pension Trustees Seek to Intercept Funds
For years, local governments in Illinois have had trouble balancing their budgets. Several struggling local governments have either failed to make public pension fund contributions, or paid far less than what they owe. The shortfall creates financial problems for the police and firefighter pension funds, and may threaten the livelihoods of retirees. Until recently, police […]
Employing the Confession of Judgment in Illinois
Confession-of-judgment clauses let creditors circumvent the normal judicial process and obtain a judgment. Promissory notes, guaranties and other contracts may include them. By signing a contract containing such a clause, a debtor agrees to the judgment amount and forfeits his or her right to dispute the claim, without a trial or notice. The creditor can […]
When Should I Use an Out-of-Jurisdiction Lawyer?
Federalism presents numerous positive aspects. But if you’re an attorney who must reach across state lines to resolve a case, our federal system does not exactly roll out the welcome mat. If you’re not licensed to practice law in another state, you can seek temporary admission, i.e. pro hac vice, but the requirements are often […]
How Attorneys Collect Court Judgments Across State Lines
After fighting for years to win a judgment, many attorneys find themselves facing a second — and equally difficult — fight to collect the judgment. That difficulty increases when the judgment issues in one state, say California, but the defendant’s major assets reside in another state, such as Illinois. Here are the basic steps the […]
