BANKING LAW
Documenting your loans and enforcing your rights
Lavelle Law provides banks and other financial institutions with legal services related to their commercial lending and workout needs. We are experienced in negotiating and documenting a variety of asset-based loans and handling complex loan workouts and foreclosures. In conjunction with our Business Litigation practice group, we handle a variety of creditor’s rights matters, including the collection of past-due obligations, the foreclosure of liens, and the liquidation of collateral. When faced with loan documentation, UCC Article 9, or forbearance issues, Lavelle Law attorneys can provide trusted legal guidance.
Our Services
- Asset-Based Lending
- Commercial Real Estate Lending and Foreclosures
- Construction Lending
- Creditors’ Rights
- Loan Syndication
- UCC Article 9 Issues
- Workouts and Forbearance Agreements
OUR BANKING LAW TEAM
Banking Law Posts
Lavelle Law News and Events
The Fair Labor Standards Act (FLSA) establishes federal minimum wage and overtime pay requirements, with exemptions for employees in bona fide executive, administrative, professional, computer or outside sales roles. 29 U.S.C. § 213. Employees classified as "outside sales" must primarily engage in making sales or obtaining contracts for services or the use of facilities, and they must conduct their work primarily away from their employer’s place of business. 29 C.F.R. § 541.500.
Public Act 103-930 amends the Illinois Mortgage Foreclosure Law (IMFL) to authorize online judicial sales of foreclosed properties, establish standards for such sales and online bidders, and prohibit certain related fees. The Public Act changes Section 15-1507 of the Illinois Code of Civil Procedure and adds Sections 15-1507.2 and 15-1510.1, effective January 1, 2025. 735 ILCS 5/15-1507, 15-1507.2, 15-1510.1.
Corporate Transparency Act Redux - Back in October of last year, I wrote about the Federal Corporate Transparency Act (“CTA”), 31 U.S.C. § 5336, and its obligations for Reporting Companies (as defined thereunder). Since then, we helped many Reporting Companies complete and file their BOI Reports.
