David J. Tecson
Think PPP loans are history? Some borrowers now trying to dodge unforgivable liability.
Having learned that the amounts they borrowed under the COVID-19-era Payroll Protection Program are not entirely forgivable, some borrowers seek to avoid repayment by blaming their lender in federal court. In February, three companies filed a class-action suit in a federal court in California accusing Bank of America, N.A. of misleading them into borrowing unforgivable…
- Commercial Litigation in Illinois
David J. Tecson
bronze David J. is a bronze memberPrincipal at Chuhak & Tecson, P.C.
“Maybe we should call legal?” Answers to commonly recurring questions from lenders
This article presents some recurring questions that come up from time to time from various lenders. They are the kind of questions that make one stop for a moment and (usually) say, let’s talk to legal about this. Question: Can an individual use a power of attorney (POA) to have someone else (an agent) sign loan…
- Commercial Litigation in Illinois
David J. Tecson
bronze David J. is a bronze memberPrincipal at Chuhak & Tecson, P.C.
The Importance of Meeting Minutes
While seemingly trivial, meeting minutes are a crucial recordkeeping tool for a business of any size. Documenting substantive corporate action, including budget approvals and the election of officers and directors, by means of corporate minutes is both a legal requirement (in most states) and a smart business practice for business owners and officers alike. Irrespective…
- Commercial Litigation in Illinois
David J. Tecson
bronze David J. is a bronze memberPrincipal at Chuhak & Tecson, P.C.
Chuhak & Tecson Principal Mallory Moreno presents to Astellas Pharma US
Mallory Moreno, principal at Chuhak & Tecson, P.C., will present a program titled “The 5Ws of Special Needs Planning: Who? What? When? Where? Why? (and How?)” on Thursday, April 14, 2022, to the employees of Astellas Pharma US, Inc., an affiliate of Tokyo-based Astellas Pharma, Inc. The program will be held via Zoom. The presentation…
- Commercial Litigation in Illinois
David J. Tecson
bronze David J. is a bronze memberPrincipal at Chuhak & Tecson, P.C.
Opportunities in incentives: leasing trends in the Chicago market
In 2021, commercial and office leasing developments in downtown Chicago have been intriguing, and to an extent, what is happening in the Chicago market is being echoed in the suburbs. If the leasing patterns that have extended from 2020 into 2021 seem to indicate a theme, it is that this is, and for a time…
- Commercial Litigation in Illinois
David J. Tecson
bronze David J. is a bronze memberPrincipal at Chuhak & Tecson, P.C.
Johnson & Johnson’s Texas Two-Step: the potential up and downsides of attempting to shed liability through a new and evolving bankruptcy maneuver
Facing over 30,000 lawsuits and potentially billions upon billions of dollars in liability over claims that its iconic baby powder and other talc-based powder products contained cancer-causing asbestos, multi-national corporate giant Johnson & Johnson (J&J) is attempting to sever that liability from the rest of its otherwise very healthy corporate body through an increasingly popular…
- Commercial Litigation in Illinois
David J. Tecson
bronze David J. is a bronze memberPrincipal at Chuhak & Tecson, P.C.
Thinking of selling your business? Here are five things to do to prepare.
Numerous legal and operational issues will arise when selling a business. Proper preparation by assembling the right group of professionals and material business documents will save time and costs, and ensure the transaction is as smooth as possible. Retain an attorney immediately After a business is offered up for sale, a purchaser may prepare and…
- Commercial Litigation in Illinois
David J. Tecson
bronze David J. is a bronze memberPrincipal at Chuhak & Tecson, P.C.
It’s time to review your privacy policies.
It started with the passage of the European Union’s General Data Protection Regulation, which became effective May 25, 2018. This was followed by California’s passage of the California Consumer Privacy Act (CCPA), which took effect on Jan. 1, 2020. Now both Virginia and Colorado have followed suit with Virginia’s Consumer Data Protection Act (CDPA) signed into law…
- Commercial Litigation in Illinois
David J. Tecson
bronze David J. is a bronze memberPrincipal at Chuhak & Tecson, P.C.
Large and small scale commercial projects may qualify for the Neighborhood Opportunity Fund
Chicago’s Neighborhood Opportunity Fund (NOF) promotes equitable neighborhood development in Chicago’s West, Southwest and South Side commercial corridors. Proceeds received from bonus payments on downtown developments are used to provide grants to support commercial investment and neighborhood needs in underserved areas. NOF provides an exciting opportunity for developers to obtain grants to assist with funding…
- Commercial Litigation in Illinois
David J. Tecson
bronze David J. is a bronze memberPrincipal at Chuhak & Tecson, P.C.
So your borrower received a Paycheck Protection Program loan but has not yet applied for forgiveness—what happens next?
By this point, everyone in the banking industry is at least somewhat familiar with the 2020 Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, which included the Paycheck Protection Program (PPP). The PPP provided U.S. Small Business Administration (SBA) backed loans to qualified small businesses in order for them to…
- Commercial Litigation in Illinois
David J. Tecson
bronze David J. is a bronze memberPrincipal at Chuhak & Tecson, P.C.
The health of Section 1031 like-kind real estate exchanges
A taxpayer, whether an individual person or a legal entity, that purchases real estate used for productive use in a business or trade or for investment may be faced with the pleasant fact that the property has appreciated in value. Generally, when the taxpayer sells the property which has appreciated in value, a tax will…
- Commercial Litigation in Illinois
David J. Tecson
bronze David J. is a bronze memberPrincipal at Chuhak & Tecson, P.C.
Large and small scale commercial projects may qualify for the Neighbourhood Opportunity Fund
Chicago’s Neighbourhood Opportunity Fund (NOF) promotes equitable neighbourhood development in Chicago’s West, Southwest and South Side commercial corridors. Proceeds received from bonus payments on downtown developments are used to provide grants to support commercial investment and neighbourhood needs in underserved areas. NOF provides an exciting opportunity for developers to obtain grants to assist with funding…
- Commercial Litigation in Illinois
David J. Tecson
bronze David J. is a bronze memberPrincipal at Chuhak & Tecson, P.C.