I filed a subchapter V Chapter 11 case to stay a foreclosure sale for the debtor who owned a vehicle repair shop in Chicago, Illinois. The Debtor-in-possession hired a commercial real estate broker pursuant to a court order. The broker quickly found a cash purchaser that wanted to build condominium buildings on the 3 parcels. We could not close the sale because the Alderman wanted an apartment building on the property containing a statutory percentage of low-income housing
I recently confirmed an unusual chapter 13 plan for a medical doctor over the objection of the second mortgagee. The second mortgagee's balloon payment was about to become due and payable, and I was able to extend it by amortizing it over a maximum five-year period.
As attorney for the plaintiff, I recently settled a complaint for an accounting filed in the Chancery division against a property manager, which also had counts for breach of fiduciary duty and violations of the Consumer Fraud Act. There existed a counterclaim for defamation and a related case involving a mechanic's lien that were part of the settlement.
I was retained by a client to reopen her chapter 7 bankruptcy case, which was closed approximately 12 years ago, to avoid a judgment lien that was filed with the Recorder of Deeds Office before her chapter 7 case was filed. Over the strenuous objections of the judgment creditor, the Bankruptcy Judge reopened the case and avoided the judgment lien to enable my client to refinance her homestead real estate. The Judge also held that a debtor can value their real estate without the need of an expert witness. This was important because generally the value of the homestead must be less than the aggregate mortgages plus prior liens at the date of filing the bankruptcy case to avoid the judgment lien on the debtor's residence.
I caused a chapter 13 plan to be confirmed reducing the Debtor's income tax debt to the IRS by over $215,000, and saving her residential real property ("Home") from being liquidated.
I recently negotiated a six(6) month forbearance agreement for my client regarding a five-year mortgage on their strip mall that became due and payable shortly after the mortgage was assigned to a new lender.
I recently filed a case against a storage facility that destroyed my client's personal property without giving proper notice or following statutory sale procedures. We sought compensatory damages, punitive damages and attorney's fees including a count under the Illinois Consumer Fraud Act. We settled the case for substantially more money than the value of the destroyed property resulting in the recovery of punitive damages and attorney's fees. The Judge also held that a party may appraise their own property without the need of an expert witness. The issue in a case where a person appraises their own property without an expert is how much evidentiary weight should be given to the appraisal of the owner.
I settled a lawsuit on behalf of an insurance broker, who was sued by a premium finance company, for a nuisance value of 20%.