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Coronavirus (COVID-19) Updates and Resources04/08/2020

The ongoing issues related to the spread of the Coronavirus (COVID-19) have had and will continue to have a significant impact on individuals, families, businesses and markets. To better address the multifaceted and fluid effects of this pandemic, HMB has formed a COVID-19 Business Emergency Response Team. This multi-disciplinary team of attorneys will address key issues related to business and…

HMB Represents Engineered Plastic Systems in Acquisition Deal with Georgia-Based Manufacturer04/06/2020

Engineered Plastic Systems ("EPS"), an engineer and manufacturer of high-density polyethylene ("HDPE"), announced its acquisition by CMI Limited Co. ("CMI"), a Georgia-based manufacturing portfolio company of Capital Partners. HMB represented EPS in the transaction. EPS is headquartered in Elgin, Illinois and manufactures HDPE for decking, railing and park products among others. Founded in 2000, EPS markets its products under Lumberock,…

David A. Hughes Provides Insight on Illinois Supreme Court’s Refusal to Hear Streaming Tax Challenge To State Tax Notes03/27/2020

An article published by State Tax Notes discusses the Illinois Supreme Court's refusal to review an appellate court decision that Chicago's amusement tax as applied to online streaming services does not violate the state constitution or the Internet Tax Freedom Act (ITFA). The court denied the petition for leave to appeal in Labell v. City of Chicago, letting stand the…

HMB’s Response to COVID-1903/12/2020

The ongoing issues related to the spread of the Coronavirus (COVID-19) have had and will continue to have significant impact on individuals, families, businesses and markets.  We know that many of you are affected and share our concerns regarding the safety and well-being of our friends and our staff and we hope you and your families are healthy and safe.…

Breen M. Schiller Named to the University of Wisconsin-Milwaukee SALT Program Advisory Board03/06/2020

Breen was named to the University of Wisconsin-Milwaukee State and Local Tax Program Advisory Board. With Breen's insight, the school is looking to revitalize the SALT program as well as re-institute the SALT conference. UW-Milwaukee seeks to provide students with the knowledge and skills needed to successfully pursue or advance careers within tax departments of corporations, CPA firms, law firms, and…

Hal J. Wood and Matthew R. Barrett Secure Victory in Highly Contested Post-Transaction Dispute02/26/2020

HMB litigators Hal J. Wood and Matthew R. Barrett secured a complete victory in a recent highly contested post-transaction dispute. The team obtained summary judgment in their clients’ favor on all counts, including an award of 100% of the clients’ attorneys’ fees, resulting in a total judgment of over $9,000,000 in favor of HMB’s clients. HMB’s clients were the sellers…

Aaron L. Hammer, David S. Ruskin and Nathan E. Delman Discuss the Hurdles and Risks Facing Cannabis Businesses with the Cannabis Industry Journal02/18/2020

Two thirds of all states and the District of Columbia have, to varying degrees, legalized cannabis. With the recent addition of Illinois, eleven states now allow adult recreational use. But cannabis entrepreneurs’ rush of excitement and dreams of cashing in is met with fierce competition and economic risks that makes the dreams, which look so dank at first, end up…

HMB Represents Svoboda Capital Partners in Recapitalization Deal with Management and Technology Consulting Firm02/12/2020

Svoboda Capital Partners ("SCP"), a private equity firm, announced its partnership and recapitalization with Kenway Consulting ("Kenway"), a management and technology consulting firm. HMB represented SCP in the recapitalization. Under terms of the agreement, SCP has purchased a majority interest in Kenway. Financial details of the transaction were not disclosed. SCP is a Chicago-based private equity firm that invests in…

HMB Represents Foxtrot in $17M Growth Round02/10/2020

Foxtrot, a modern convenience store offering in-store and delivery options, announced that it raised $17 million in a funding round co-led by Imaginary Ventures and Wittington Ventures and joined by previous investors Fifth Wall, Lerer Hippeau, Revolution’s Rise of the Rest Seed Fund, M3 Ventures, The University of Chicago, Collaborative VC and Wasson Enterprises as well as new investors Bluestein…

Chris T. Lutz discusses State Sovereignty with Tax Notes State02/06/2020

Read the full article on State Tax Notes here (subscription required). In this installment of his column, Internally Consistent, Chris discusses the impact of recent U.S. Supreme Court decisions affecting state sovereignty, including Hyatt and Dawson v.Steager. This was the year of remote seller nexus, marketplace facilitators, state taxation of foreign income, and market-based sourcing becoming the majority rule for…

Congratulations to HMB Attorneys Selected to 2020 Super Lawyers and Rising Stars Lists02/03/2020

2020 Illinois Super Lawyers John W. Guzzardo Richard M. Horwood Fred O. Marcus Marilyn A. Wethekam Jeffrey A. Zaluda 2020 Illinois Super Lawyers - Rising Stars Karl E. Analo Matthew R. Barrett Nathan E. Delman Brett M. Winterstein Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high-degree of peer recognition…

Four Attorneys from the Litigation Group Named to 2020 Illinois Super Lawyers and Rising Stars Lists02/03/2020

One attorney from HMB's Litigation Group has been named as a 2020 Illinois Super Lawyer. Additionally, three attorneys were named to the 2020 Illinois Rising Stars list. Super Lawyers is a rating service of outstanding attorneys from over seventy practice areas who have attained a high degree of peer recognition and professional achievement. The following HMB attorney was selected for…

HMB Represents Mark-It Express Logistics LLC in Acquisition of Chicago-based Trucking Company01/21/2020

Mark-It Express Logistics LLC ("Mark-It"), a leading Midwest intermodal trucking and freight brokerage company, acquired Spirit Trucking Company ("Spirit"), a Chicago-based trucking company. HMB represented Mark-It in the acquisition of operating assets. Mark-It, founded in 2009 and recently named to Crain Chicago's Fast 50 for the second time and INC. 5000 for the fourth time, offers a full array of third-party…

David A. Hughes discusses the Unveiling of Illinois’ 30-Day Income Tax with Law36001/13/2020

Illinois seeks to establish a 30-day safe harbor against state income tax for nonresident employees under a recently proposed regulation that specifies how workers should calculate their number of days worked in the state. In an article by Law360, David Hughes explains how different this proposed rule is when compared to previous regulations, noting that previous regulations on taxing nonresident…

HMB Represents NextLevel in $50M Merger with California-Based Healthcare Company01/10/2020

NextLevel Health Innovations, Inc. ("NextLevel"), a managed care health plan for Cook County residents with Medicaid known for its community involvement, has signed a Merger Agreement with Molina Healthcare, Inc. ("Molina"), a FORTUNE 500 company. HMB represented NextLevel in the negotiation and signing of the Merger Agreement. As part of the transaction, Molina will assume the right to serve approximately…

Jim L. Jerue and Katherine A. Attebery Named 2020 Leading Lawyers by Leading Lawyers Advisory Board01/09/2020

Jim and Katie were recommended by their peers and approved by the Leading Lawyers Advisory Board to be 2020 Leading Lawyers. The list of Leading Lawyers is the result of contact with thousands of lawyers within their respective region and/or area(s) of law. Only those lawyers who are most often recommended, and later approved by the Advisory Board, are selected.…

HMB Elevates Grant Hendricks, David Machemer and Tim Rybicki to Partner01/08/2020

Chicago, IL December 12, 2019 HMB Legal Counsel, a preeminent provider of legal services in Business and Finance, State and Local Tax, Trusts and Estates, Bankruptcy, Reorganization and Creditors' Rights, Real Estate and Litigation announced that three associate attorneys were elevated to partner. (more…)…

HMB Represents Listen Ventures in $2.8M Series Seed Funding Round of Washington State-Based Childhood Development Company01/06/2020

Slumberkins, makers of tools for early emotional learning, has secured $2.8 million in its Series Seed funding round led by Listen Ventures and SeaChange Fund. HMB represented Listen Ventures in their investment. Listen Ventures, a consumer-only venture capital firm focused on backing and building the brands of tomorrow, invests in ambitious entrepreneurs who challenge traditional thinking. This capital injection comes…

Samantha Breslow Discusses the Paradox of Chicago’s Approach to Nexus and the “Cloud Tax” with Bloomberg Tax01/03/2020

Chicago's previously hidden tax ruling exempted Moxie Software Inc. from tax collection duties under the "Cloud Tax". In an article by Bloomberg Tax, Samantha Breslow explains the discrepancy between the Cloud Tax and Chicago's stance on nexus. Because the city didn't address the question of nexus in 2015 when modifications to its Personal Property Lease Transaction Tax were made, the…

Samantha Breslow discusses Chicago’s Previously Hidden Private Letter Rulings with Bloomberg Tax01/02/2020

In an article published by Bloomberg Tax, Samantha Breslow delves into the challenges presented to taxpayers after Chicago's previously hidden Private Letter Rulings ("PLRs") come to light. "Historically, it has been very difficult to gain access to Chicago GILS ["General Information Letters"] or PLRs, which results in a lack of transparency for taxpayers trying to comply with city ordinances," said…

Samantha Breslow Named a 2019 National Law Review Go-To Thought Leader12/11/2019

For her articles focusing on Illinois and Cook County Tax Law, including those on Chicago and Cook County Amusement Tax and Applying the Chicago Lease Transaction Tax to "Cloud" Software Products, Sam is named a 2019 National Law Review Go-To Thought Leader. 75 authors from a pool of over 100,000 legal news articles published by the National Law Review in…

HMB Represents Hyde Park Angels in $4.5M Funding Round of Chicago-based Tech/Cannabis Company12/06/2019

Leaf Trade, a technology company whose wholesale ordering platform connects licensed cannabis vendors and dispensaries, announced that it raised $4.5 million in a funding round led by HPA and Duke Software Investments. HMB represented Hyde Park Angels (HPA) in their investment. HPA's people-first approach provides unique value to entrepreneurs and investors. HPA will be actively involved in Leaf Trade at…

Hal Wood Named to Law Firm Alliance’s Board of Directors12/02/2019

Hal Wood was named to the Law Firm Alliance's Board of Directors. The LFA is an international network of mid-sized law firms where members collaborate to share knowledge, experience and jurisdictional expertise to benefit their clients. The LFA provides a wealth of trusted resources for our clients and virtually expands our attorney network worldwide.…

HMB represents Colony Display LLC in Sale to Kinzie Capital Partners11/21/2019

HMB represented Colony Display LLC in its sale to Kinzie Capital Partners LLC, a Chicago-based private equity firm. Colony Display is a leader in highly customized fixtures and displays servicing the home improvement, retail and hospitality industries. Kinzie's acquisition of Colony Display will see the company into the next phase of growth and provide resources to advance company strategy and…

HMB Represents DataCubes in $15.2 Million Series B Funding Round11/15/2019

DataCubes is the first underwriting decisioning platform for commercial property and casualty insurance. Leveraging machine learning and artificial intelligence software, DataCubes provides commercial carriers of all sizes the ability to make real-time underwriting decisions. The intelligence gathered provides efficient, accurate, and productive steps forward for DataCubes' clients. The company was founded in 2016 by Kuldeep Malik and Harish Neelamana and…

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