The American system of civil law provides two forms of relief — legal remedies and equitable remedies. Legal remedies are appropriate in commercial cases where a party has caused economic harm to another but can make that victim “whole” by paying compensation for the loss of goods or services. However, when money damages are inadequate, Schwartz & Kanyock, LLC pursues equitable remedies to resolve legal problems. These “extraordinary” remedies are court orders that compel a person to do, or refrain from doing, a particular act. Common examples of equitable remedies include:
When money damages do not adequately address the injustice our client has suffered, we provide advice on the most appropriate equitable remedies available then vigorously argue the case in court.
Courts often use equitable remedies to resolve commercial disputes. In cases involving fraudulent transfers, we petition for a variety of equitable remedies to help creditors seek relief. We may seek an injunction to stop a debtor from transferring assets to third parties to allow our clients to seize it to satisfy the debt.
In cases where entity control is at stake, we may ask the judge to impose a receivership or a constructive trust on assets to help our client recover property. In a receivership, the court appoints a receiver to secure the assets and maximize their value. We may also ask the judge to impose a constructive trust.
We also have significant experience litigating suits for accountings. An accounting helps clients recover profits taken due to a breach of fiduciary duty. This type of claim frequently arises in partnership disputes and corporate squeeze outs to prevent the unjust enrichment of the breaching party.
Equitable remedies are not available in every case. However, when they are appropriate, Schwartz & Kanyock, LLC works tirelessly to ensure that our clients receive the maximum benefit.
Schwartz & Kanyock, LLC represents commercial clients in courts of equity throughout the Chicago metropolitan area. We also serve as co-counsel for cases throughout the United States and as local counsel for firms outside Illinois. Call 312-436-1442 today or contact the firm online to schedule your initial consultation.