David J. Tecson

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…

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…