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SEC Proposes Changes to Accredited Investor Standard and Assesses its Impact on the Marketplace01/09/2020

In December 2019, the Securities and Exchange Commission (the “SEC”) proposed amendments to the definitions of “accredited investor” and “qualified institutional buyer”.

Employers Beware: The Cannabis Laws, They Are A-Changin’02/26/2019

Of course, laws are changing all the time. But with medical marijuana laws being enacted in states around the country at a quick pace, the list of shifting rights and obligations related to the workplace is growing like a weed. Two recent cases highlight wins …

Tenancy by the Entirety Not a Defense to a Mortgage Foreclosure Case When Both Spouses Signed Letter of Direction to Trustee of Land Trust11/04/2018

In  Marquette Bank v. Gesiakowski, et al., 2015 IL App (1st) 142627, the Illinois First District Appellate Court recently ruled in favor of a lender in a mortgage foreclosure case that resolved interesting issues regarding a mortgagee's ability to foreclose on real estate held in a land trust, when the beneficial interest in that land trust is held by spouses as…

Pumping the Brakes on Shareholder Demands and Threats of Derivative Lawsuits against Your Company08/31/2018

Every state recognizes the right of a company's shareholder (or member in the case of a limited liability company) to make a demand of the Board of Directors to initiate litigation that the shareholder believes will benefit the company. If the Board fails or refuses to act, the shareholder has the right to sue derivatively on behalf of the company. While…

Illinois Decision Sheds Light on Potential Pitfalls for Intercreditor Agreements12/15/2017

Given the increasing prevalence of intercreditor agreements in commercial finance transactions, lenders and counsel should be aware of an important 2017 Illinois appellate court decision, Bowling Green Sports Center v. C.A.G. LLC, in which the court ultimately determined that in certain circumstances a senior lender?s …

The BEC/FBI Tech Hacking Advisory – Doing Business with Foreign Suppliers/Businesses10/29/2015

It was not so long ago that in the cyberspace realm businesses only needed to worry about having a good firewall and spam filter to prevent fraud. Now, as technology has advanced so have the fraudsters and the government is warning businesses, especially those conducting …

Leaving S Corporation Stock to a Special Needs Individual09/24/2015

An owner of an S corporation with a special needs child may be faced with a dilemma.  If the S corporation is a family business, much of the S corporation holder's wealth may be held in the S corporation, but the business owner may feel strongly about treating all of his or her children equally in terms of gifts and…

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