Citing what it believes to be a "foreclosure crisis" in Illinois, the Illinois Supreme Court has adopted new rules relating to residential foreclosures. The new rules, which allow for mandatory mediation and which place a higher burden on lenders, take effect May 1, 2013.
We announced at the beginning of this year that our attorneys have been selected to prepare six (6) journal articles for various scholarly publications ranging from local special interest journals to nationaly recognized periodicals. The preparation of these articles not only forces us to remain on the cutting edge with the most recent updates in the law, but also enables us to keep our clients informed of particular areas that may affect their legal interests. Our second article, reprinted below with the permission of the Peoria Medical Society, was written by Joe VanFleet and Emily Wilburn, and outlines the various alternatives in determining the proper manner to incorporate a medical practice.
I have never wanted to comment publicly about a pending case more than I do today regarding Brad and Jera Deal's Petition for Detachment that was denied last night.
In today's highly competitive and highly litigious commercial environment, a single mistake can have catastrophic consequences on professionals who have not adequately protected themselves. For that reason, an increasing number of professionals, including engineers, architects, and contractors, have begun to manage their risk by including a provision in their contracts which limits their liability.
Yesterday I had lunch with a friend whose brother is in need of a business attorney, and he wanted my thoughts on what questions his brother should be asking his prospective lawyers. He lives far out-of-state, so our office cannot cost-effectively service his needs. My friend posed an interesting question. Since I believe that some legal services are becoming a commodity, and the supply of lawyers today exceeds the demand for them, what are the important questions to ask when researching and deciding on the right attorney? This is certainly an interesting question that cuts directly into the heart of a very important decision. After all, an attorney handles a variety of extremely sensitive legal issues for a company, so the right lawyer should be chosen carefully and with much scrutiny. It is currently a "buyer's market" when it comes to legal services, so clients should not be afraid to ask difficult questions of their prospective lawyers. After much thought and two glasses of wine (which means I'm probably leaving something out), these are the five (5) key questions I would want answered when searching for the right business attorney:
In many ways, the newly evolving Generation Y leaders of tomorrow are becoming both prevalent and predictable. They want speed, efficiency, quality, and transparency from their vendors at rock-bottom cost, sort of like Six Sigma on steroids. And make no mistake, these business people consider their lawyers just like any other vendors. What I have found most endearing about this genre, however, is that generally they are eager and willing to provide these same attributes in return and allow themselves to be considered in the same light.
We are proud to announce that our lawyers have published a series of five articles that will appear in upcoming journals in 2013. The first was co-written by Joe VanFleet and Emily Wilburn, and adresses how an eminent domain proceeding can effect a commercial landlord-tenant relationship. The article will appear in the upcoming treatise on Landlord-Tenant Law published by the Illinois Institute for Continuing Legal Education. We are proud of our experience in litigating eminent domain cases, and hope that our clients will find the article informative and useful.
Anyone watching the legal industry closely certainly expected the number of law school applicants to decrease again this year. Applicants have been on a steady decline of about 10% per year for two consecutive years. The current numbers were just released, and unfortunately the statistics are even worse than anticipated. Even our nation's accredited law schools were not prepared for this, and they are beginning to panic.
The horrific recent mass murder of 26 children at Sandy Hook Elementary School, as well as the daily headlines of citizens being murdered by assault weapons, has reignited the gun debate in this country. Over the past month alone, Congress has held multiple hearings on the effectiveness of gun laws, and President Obama has promised to make gun control a pivotal part of his second term.
As 2012 came to a close, I sat in a transactional closing representing a purchaser of shares in a local company. The atmosphere was tense as several material issues remained unresolved and the deal had to close by year's-end or it would inevitably fall apart. One open issue involved whether the corporation would pay the professional fees of all the various attorneys, accountants, and financial advisors involved in the transaction. One of the lead negotiators pointed at me and asked "what are your fees to date?" I responded with the flat fee I had negotiated with my client through our Legal Project Management process. It was a modest fee, since all I was asked to do was review the documents, provide advice regarding any potential problems within the documents, and attend the closing. For several seconds you could hear a pin drop in the room, as everyone except my client was expecting to hear a number substantially higher. A smile slowly formed upon the face of my client as the other shareholders looked at each other and immediately agreed to allow the corporation to pay my fees.
Many of the blog icons on this page have been created by Joe’s three children. They are so excited to see their artwork on Dad’s work website!