Balancing Act: The ARDC Is Monitoring The Balance On Your Client Trust Accounts
The Rules of Professional Conduct now requires attorneys to provide consent for the banks holding client funds to automatically report overdraws to the ARDC. This is an early detection system for possible financial malfeasance and a call for more discipline in managing and accounting for client funds. Illinois Rule of ...
Advice to Clients Enforceability of Restrictive Covenants
The Illinois Supreme Court recently issued its opinion in Reliable Fire Equip. Co. v. Arredondo, 2011 Ill. LEXIS 1836 (Ill. Dec. 1, 2011). The opinion enforced prior precedent that an employer’s legitimate business interest should be considered in deciding whether a restrictive covenant should be enforced, but it rejected the ...
What Can You Count On These Days?
By Joseph R. Marconi & Brian C. Langs(1) Johnson & Bell, Ltd. Chicago Does a statutory limitations period stated in calendar years end on the anniversary date or the day before the anniversary date? Two recent cases, one withdrawn and one with an Illinois Supreme Court Justice’s pointed dissent, indicate ...
In “Eligible” IOLTAs We Trust
By Joseph R. Marconi & Brian C. Langs(1) Johnson & Bell, Ltd. Chicago Effective September 1, 2011, the Illinois Supreme Court has amended Rule 1.15 of the Illinois Rules of Professional Conduct respecting the safekeeping of client funds deposited in trust accounts. As professional fiduciaries, attorneys have long been required ...
Lawyers Are Increasingly The Targets Of Email/Fraudulent Check Schemes
By Joseph R. Marconi & Brian C. Langs(1) Johnson & Bell, Ltd. Chicago Lawyers are increasingly receiving emails from alleged potential foreign clients looking to collect debts from customers. More likely than not, the email is the first step in a fraudulent scheme which involves a deposit and withdrawal from ...
SNYDER v. HEIDELBERGER: The Plaintiff Reposes… The Court Disposes
By Joseph R. Marconi & Brian C. Langs(1) Johnson & Bell, Ltd. Chicago Defense counsel engaged by ISBA Mutual Insurance Company (ISBAMIC)[2] recently obtained a highly favorable interpretation of the repose provision contained within Illinois Code of Civil Procedure, §735 ILCS 5/13-214.3 (legal malpractice) on behalf of one of its ...
