Financial Services Quarterly

Financial Services Alert: What is Due and What is Not Due Under the Illinois Condominium Property Act: That is the Question
Condominium associations often struggle with what is due under the Illinois Condominium Property Act. However, a familiarity with the act can be helpful.
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Financial Services Alert: Bank May Be Held Responsible for Condo Assessments Incurred Prior to Taking Title
In the case of 1010 Lake Shore Association v. Deutsche Bank National Trust Company, 2014 IL App (1st) 130962 (1st Dist., 2nd Division, August 12, 2014), the Appellate Court held that a foreclosing lender was responsible for paying condominium assessments i
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Financial Services Alert: Employers Beware: Employment Contracts - New Rules on Restrictive Covenants in Illinois
In Fifield v. Premier Dealer Services, the Illinois appellate court held that the offering of a job will no longer be considered adequate consideration to support restrictive covenants, unless the job lasts typically, at least two years.
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Financial Services Alert: How Much Control Can the Lender Exercise in Workouts?
There has been much discussion on the amount of control a lender can exercise over the borrower’s business in workout situations, and a lot of uncertainty. It’s time to revisit this issue and provide a few guidelines for lenders.
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Financial Services Alert: MERS’ Victory in Court May Have Positive and Negative Effects
MERSCORP, Inc. successfully defended itself against a suit filed by a county recorder that claimed that the company's practice of refusing to record or pay for the recordation of promissory note assignments unjustly enriches the company.
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