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Articles Tagged with “chicago”

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Henderson Square Condo. Ass’n v. LAB Townhomes, LLC
Illinois Supreme Court , Case No. 2015 IL 118139
Opinion Nov. 4, 2015 – Rehearing Denied Jan. 28, 2016

This case stems from the ill-fated Lincoln-Belmont-Ashland Redevelopment project featured on our Blog before. When a Condominium Association sued the developers based on failure to reveal construction defects, the Courts weighed in on whether the claims were time-barred. Untimely, the Appellate and Supreme Court broke with the Trial Court and found that a question of fact remained as to what the Plaintiff Condominium Association knew – or should have known – and when. Only after answering that question, the Court decided, could it be determined if certain claims were time barred.

Factual Background

In 2006 Defendants developed and sold unites pursuant to a contract with the City of Chicago for the mixed use Lincoln-Belmont-Ashland Redevelopment project. In 2011 Henderson Square Condominium Association sued the developers of the community, alleging: breach of implied warranty of habitability, fraud, negligence, breach of the prohibition in the Chicago Municipal Code as to the misrepresentation of material facts in marketing and selling real property, and breach of a fiduciary duty.

Trial Court

The Trial Court dismissed the Condo Association’s Complaint because it concluded that Plaintiffs failed to adequately plead the Chicago Municipal Code violation and breach of fiduciary duty and that certain of the Counts were time-barred pursuant to 735 ILCS 5/13-214 and 5/2-619.

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Midwest Generation was established in 1999 as a holding company for coal-fired power plants in Illinois. By this summer the company had purchased 6 such plants from from ComEd including: 

  • Will County power station, Romeoville
  • Fisk and Crawford stations in Chicago
  • Waukegan power station, Waukegan
  • The Joliet power station in Joliet, and 
  • The Poweron power station in Pekin

This company started out with high hopes and innovative ideas for the development of what has come to be known derisively as clean coal: high grade, low-emission power creation that would be coupled with better returns for the battered coal industry. But like every business emerging in the shadow of big-coal, Midwest Generation lost momentum as pro-coal legislation stalled. Now it looks like the economy has dealt it a death blow.

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After losing nearly $11 billion since 2001, in November 2011 American Airlines sought Chapter 11 bankruptcy protection. In Chapter 11 the debtor company remains in control of its business assets subject to a plan of reorganization approved by creditors and the Court. In American’s case despite traumatic changes at the top, painful labor reform, and competitors eagerly eying its routes and pilots, the company has maintained, even improved, its bottom line. In short, the system works.

The More Things Change …

As its Chapter 11 case was being filed American’s parent company AMR installed Tom Horton as the new CEO. As a holding company AMR owns American’s stock but has no business of its own (think Berkshire Hathaway).

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Congratulations to Judge Bruce W. Black, who will become Chief Judge of the Bankruptcy Court for the Northern District of Illinois, replacing current Chief Judge Carol Doyle. Chief Judge Black will continue to hear all matters assigned to the Joliet Call on Fridays, which includes cases filed in Will, Grundy, Kendall and LaSalle counties. His chambers will be moving from the 6th to the 7th floor of the Dirsken Federal Building in Chicago. Likewise, his Courtroom will be changing to Room 719 and Chambers will be located in Room 756. All pending, previously assigned Eastern division cases (with a few exceptions) that do not include the four counties making up the Joliet call will be re-assigned to other judges in the Eastern Division immediately. If your case is affected, you will receive a notice from the Court.
Click here to view this information on the Bankruptcy Court’s website.

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