News & Publications

This past March, in CB Construction & Design, LLC v. Atlas Brookview, LLC, et al., the Illinois First District Appellate Court recognized a property owner's ability to significantly shorten the time for a mechanic's lien claimant to bring suit to enforce the lien. In general, under the Illinois Mechanics Lien Act (770 ILCS 60/0.01 et seq.) (the "Act"), a lien claimant must commence a suit and join necessary parties within two years after the completion of the [...]

To preserve the marketability of a commercial or mixed-use condominium unit sold to a third-party, it may be necessary to include specialized minority owner protection provisions in the condominium declaration for the project. A description of common minority owner protection provisions to consider in condominium declarations are set forth below: Major Decision Provisions A Major Decision provision essentially provides that any decision made by the condominium association or another owner that has a material adverse [...]

Lenders are increasingly moving to take action against borrowers as the COVID-19 pandemic continues and patience wears thin, Pryor Cashman LLP's hotel practice leader told Law360 in a recent interview. Todd Soloway, who leads the firm's hotel and hospitality group, said he expects to see more litigation, as well as more restructuring, as borrowers continue to struggle to make their loan payments. Soloway, a partner in New York, works on a wide range of real estate, real estate finance and [...]