Carlson Dash Digest – October 2014

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The Carlson Dash Digest

October 2014 / Vol. I

Carlson Dash is pleased to present the first issue of its monthly legal news you can use newsletter! Our goal is to provide practical, relevant and topical content to our clients and peers. Because we want this newsletter to be something you look forward to each month and use as a practical resource, reader feedback is encouraged. If there is a topic that interests you that has not been covered, drop us a line and we will be sure to cover it in a future issue, or offline.

October Topics

  • Sole Proprietorship to S-Corp: Choosing What Works for You (Part 1)
  • Lender Liability: “Public Accommodations” in Non-Residential Foreclosures
  • Wisconsin: Payoff Statements and Security Satisfaction

Growing to Meet Your Needs! 

Jeffrey Altshul and David Kabat have recently joined Carlson Dash. Jeff’s practice focuses on financial transactions and litigation matters representing commercial banks, corporate finance companies, hedge funds, investors, agents and creditors locally and nationally. David focuses his practice on construction and real estate law, commercial litigation and creditors’ rights.
IMN’s 4th Annual
Bank & Financial Institutions Special Assets
Executive Conference on Real Estate Workouts (Midwest)
Carlson Dash was proud to sponsor IMN’s 4th Annual Bank & Financial Institutions Special Assets Executive Conference on Real Estate Workouts (Midwest) last month in Chicago. The firm’s managing partner, Kurt M. Carlson, was a panelist in the session titled Litigation & Defense Lesson Learned: What a Workout Officer Needs to Know.
IMN was founded in 1994 and is a global organizer of institutional finance, investment and healthcare IT conferences. According to their website, hallmarks of an IMN conference are a quality and rigorously vetted speaking faculty, interactive panel discussion and a balanced audience composition which facilitates excellent networking opportunities. For more information on IMN please visit IMN’s website.

Lawyers Lend-A-Hand to Youth’s
11th Annual My Hero Awards

On September 16, 2014, the 11th Annual My Hero Awards ceremony was held by Lawyers Lend-A-Hand to Youth. This event is an annual celebration honoring lawyers, judges, law firms, and businesses who have demonstrated a commitment to community service and mentoring. The chair of this year’s event was our very own, Autumn L. Sharp. Autumn is also a past recipient of a My Hero Award (2011) in recognition for her work with Cabrini Connections as a mentor/tutor.

The audience gathered to honor the success of this year’s honorees and included many heroes, including celebrated broadcaster and author Merri Dee, along with lawyers, federal and state court judges and other prominent Chicagoans who have all served as mentors and inspirations to youth throughout the metropolitan area.

Carlson Dash would like to congratulate this year’s My Hero Award recipients:

  • Steve J. Gavin – Making a Difference Award
  • US Equities Realty, LLC – Corporate Partnership of the Year Award
  • Hon. Timothy C. Evans – Judge Marovitz Mentoring Award

Thank you for your commitment to the importance of mentoring and ensuring that all youth in Chicago have the opportunity to succeed!

For more information on this year’s honorees and Lawyers Lend-A-Hand to Youth please visit Lawyers Lend-A-Hand’s website.

Sole Proprietorship to S-Corp: Choosing What Works for You (Part 1)

You’re following your dreams and you’re starting your own business. Should you form a sole proprietorship, an S-Corp, an LLC or one of several other available formation entities? Which choice is best for you?
Lender Liability “Public Accommodations” in Non-Residential Foreclosures
Under the Americans with Disabilities Act, a lender that acquires ownership of real estate through foreclosure is required to provide goods, services and access to people with disabilities. Are you in compliance?
Wisconsin: Payoff Statements and Security Satisfaction

Wisconsin banks and other lenders now have to meet a borrower’s request for a payoff statement and file evidence of satisfaction of a security instrument within a limited period of time. What should you do to avoid penalties for non-compliance?

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216 S. Jefferson Street
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Chicago, IL 60661
312.382.1600WISCONSIN
10411 Corporate Drive
Suite 100
Pleasant Prairie, WI 53158
262.857.1600
    
     
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Carlson Dash Digest – November 2014

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The Carlson Dash Digest

November 2014 / Vol. 2

During this season of thanks, we would like to take a moment to thank all of our clients and colleagues. We are proud of the firm we have built, our partnerships with our clients, and we greatly appreciate everyone’s ongoing support. On behalf of everyone at Carlson Dash, we wish you and yours a very Happy Thanksgiving.

We had a great response to our inaugural issue of The Carlson Dash Digest last month and look forward to bringing you “legal news you can use” each month! Our goal is to provide practical, relevant and topical content to our clients and peers. We hope you find The Digest to be a practical resource and we encourage reader feedback. If there is a topic that interests you that has not been covered, drop us a line and we will be sure to cover it in a future issue, or offline.

November Topics

  • Sole Proprietorship to S-Corp: Choosing What Works for You – Partnerships (Part 2)
  • Contract Terms: Analyzing the Technical vs. Practical Impact
  • Anatomy of a Business Assets Auction
Carlson Dash Wins Illinois Court of Appeals Case That
Expands Bank Litigation and Settlement Rights
Carlson Dash is proud to have won an appellate court case, on behalf of its bank client, that was appealed to the Illinois Supreme Court by the defendants in the case. The result of this published appellate decision will encourage parties to engage in those types of communications designed to foster settlement, even in the context of active litigation.The case underscores the importance of bank’s counsel taking an active and leading role in the settlement dialogue in order to protect banks from spurious claims by defendants who may try to use that which is said during settlement discussions against the bank.

Read the full decision on Van Pelt Construction Co. v. BMO Harris Bank, N.A., 2014 IL App (1st) 121661, 380 Ill.Dec. 384, 8 N.E. 3d 554.

Construction Contracts: The Boiler Plate That Gives You Fits

On October 24, 2014, James Dash was a featured speaker at an Illinois State Bar Association (ISBA) seminar at Northern Illinois University College of Law entitled “Construction Contracts: The Boiler Plate That Gives You Fits.”   The seminar addressed common construction contract terms and recurring issues that often arise in those contracts.  Jim’s segment, “The Devil is in the Details,” focused on the importance of paying attention to detail and included the topics of “pay when/if paid” and “no damage for delay” clauses and delay damages.

Jim’s practice focuses on real estate-related litigation, with an emphasis on construction (including mechanics lien claims), as well as title insurance defense work. Jim’s clients include a number of companies whose businesses are in, or related to, the real estate, title insurance and construction industries. For a list of upcoming ISBA seminars, please visit http://www.isba.org/events.

Legal Tidbits

Ignorantia juris non excusat is a Latin term the legal profession has embraced which generally means that ignorance of the law is no excuse for violating the law. If one walks into any courthouse in the United States on any given day, it is quite likely that a judge will be heard using that legal principle to explain to a perplexed-looking party why he is ruling against them. Yes, one is presumed to know the law. That principle was advanced back in the day when attorneys became attorneys by “reading the law” while serving as an apprentice, like any other tradesman.

However, in the United States, we have more laws than one can count, let alone read. For instance, in 1936 the number of pages in the Federal Register, which serves as the catalog for federal laws, was about 2,600. Today, the Federal Register is over 80,000 pages long.  For sake of perspective, War and Peace is only 1,440 pages long. And the 80,000 pages does not include a listing of any state or municipal laws, and each unit of government has hundreds (if not thousands) of its own laws.

So, if someone tells you that ignorance of the law is not an excuse, you might want to ask them if they are aware of the number of the laws on the books. Therefore, how can anyone be anything other than ignorant of most laws? It would be refreshing to see our elected officials reverse course and run on platforms of reducing the number of laws on the books.

Sole Proprietorship to S-Corp:
Choosing What Works for You – Partnerships 

Last month, we explored some of the benefits and detriments of forming and operating your business as a sole proprietorship.  This month, we discuss various partnerships, which may be a better option for you if “more is merrier.” Which choice is best for you?
Contract Terms: Analyzing the Technical vs. Practical Impact

All too often we run into situations when our clients’ contracts, specifically and expressly provide for one thing, while our common sense tells us that we should do the opposite. What is the key to managing risk?
Anatomy of a Business Assets Auction
In a time when banks and borrowers increasingly use auctions to dispose of assets, well-conceived bid procedures are the key to turning a ho-hum auction into an effective liquidation or even, in rare cases, a bar burner. Read SK Hand Tool Corporation’s success story.

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Carlson Dash, LLC 
ILLINOIS   
216 S. Jefferson Street
Suite 504
Chicago, IL 60661
312.382.1600WISCONSIN
10411 Corporate Drive
Suite 100
Pleasant Prairie, WI 53158
262.857.1600
 

    
     
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