Efficiently Litigating a Real Estate Dispute
An LP real estate client terminated a purchase and sale agreement when a condition to closing could not be satisfied. The buyer was upset and sought to prevent our client from selling the property to any other person or entity by recording a lis pendens and filing a lawsuit. With the client seeking a quick result, we devised a plan that centered on efficiency, dispensing with unnecessary litigation tactics and quickly getting to the heart of the matter. The plan was simple – file an answer to the complaint along with a summary judgment motion, push the matter to immediate hearing, and work to prevent the other side from successfully employing delay tactics. In the end, LP was able to achieve a rapid result for the client, securing a summary judgment and a release of the lis pendens, while obtaining an attorney’s fee award. In other words, we quickly achieved a result allowing the client to market and sell its property.
Handling a Broker-Dealer Dispute
LP defended a major broker-dealer and newly hired financial advisor in injunction lawsuit and FINRA arbitration filed by former employer alleging breach of non-solicitation provisions and violation of the Trade Secrets Act. After filing and arguing a Motion to Dismiss, on the grounds that the former employer was utilizing an employment agreement that violated FINRA rules, the former employer voluntarily dismissed the lawsuit.
LP Obtains Seven-Figure Settlement in Legal Mal Case
LP represented a client that obtained incorrect tax advice from a major Chicago law firm. After successfully prevailing on a number of motions to dismiss and strategically changing the leverage in the case by uncovering helpful discovery, LP successfully obtained a seven-figure settlement at a mediation.
Litigating Complex Real Estate Issues
LP intervened on behalf of a client who was a Chicago Loop landowner. The case involved a number of complex real estate litigation-related issues, including a mechanic’s lien foreclosure, mortgage foreclosure and assertion of superior rights by way of implied easements under a development agreement with the City of Chicago. LP won a Motion to Dismiss and defended a Motion for Summary Judgment on behalf of our client.
Terminating A Perpetual Contract
LP has drafted and made Illinois appellate law on terminating perpetual contracts, allowing our client, a premier seller of sporting goods, to terminate a multi-million contract with its sales representative for Wal-Mart. After the appellate ruling, LP won summary judgment on behalf our client in trial court, ruling that the client owed $0 of the $4-$6 million in past commissions the sales company sought to recover.
LP Successfully Defends Brokerage House from Customer Claim
LP successfully defended a prominent global investment banking and wealth management firm sued by a customer for mismanagement of its investment accounts. Though the customer claimed millions in damages, LP, through forensic accounting and strategic discovery, was able to litigate and eventually settle the matter for “the cost of defense,” a nominal amount.
LP Obtains Favorable Settlement in Trademark Infringement Case
LP represented a leading LED lighting contractor who sued in Federal Court seeking injunctive relief against its former contractors which, after termination, began competing using a deceptively similar name and logo. As part of a settlement, the infringing contractors agreed to various forms of preliminary and permanent injunctive relief to prevent future against unfair competition as well as a substantial monetary payment.
LP Obtains Settlement in Fraud Case against Lender
LP represented individual borrowers in litigation against a large lender that allegedly misrepresented the results of appraisals in order to induce the borrowers to move forward with a sizable loan on which there was an ultimate default. After thwarting a series of motions attacking the claims, LP obtained a sizable settlement payment to the borrowers and a waiver of the lender’s deficiency claim.
LP Successfully Uses Partition Act to Force Buy-Out of Interest in Real Property
LP successfully forced the purchase of its client’s interest in improved property that could not be subdivided and about which the owners could not reach an accord. The Court summarily rejected the defendant’s challenge to the partition complaint, forcing an early settlement by which the defendant was forced to pay fair market value for the plaintiff’s interest in the property, ending a lengthy and contentious battle over the disposition of the property at issue.
LP Enforces Restrictive Covenants against Former Officers
LP represented a leading designer/manufacturer in two-front battle before the Courts and in arbitration to enforce restrictive covenants against former officers that formed a competing company and attempted to solicit their former customers. LP obtained expedited discovery that led to an early favorable settlement that included broad injunctive relief and monetary compensation.
LP Successfully Defends Tax Indemnification Claim against former Member
LP successfully defended a former LLC Member from whom the current manager sought indemnification for certain unpaid withholding taxes. Although the LLC was seeking hundreds of thousands of dollars, LP demonstrated that the former partner lacked responsibility for the taxes, and obtained an eventual settlement for a nominal amount.
Learn more about our Litigation Group.