Teller, Levit & Silvertrust, P.C.

Teller, Levit & Silvertrust, P.C. Blogs

Latest from Teller, Levit & Silvertrust, P.C.

Construction projects can be complex endeavors involving multiple parties and significant financial investments. Unfortunately, disputes and payment issues can arise, leading to the need for debt collection through construction litigation. In Illinois, understanding the legal landscape surrounding this process is crucial for both contractors and property owners alike. If you are interested in obtaining legal representation for debt collection purposes in a construction litigation matter, contact an experienced lawyer to assist you.
Mechanic Liens 
These powerful tools are available to contractors and suppliers to secure payment for their work or materials. In Illinois, the Mechanics Lien Act provides a
Continue Reading Understanding Debt Collection in Construction Litigation

Commercial litigation in Illinois law involves legal disputes between businesses or individuals relating to business transactions. It is a complex and multifaceted area of law that encompasses a wide range of issues. If you need legal assistance in commercial litigation, contact an experienced lawyer today to get the help you need.
Assisting in Contract Disputes
One of the most common types of commercial litigation involves contract disputes. These disputes may arise from breach of contract claims, where one party fails to fulfill their obligations under a contract. Commercial litigation attorneys play a crucial role in analyzing the terms of the
Continue Reading What Does Commercial Litigation Most Often Entail? 

Alternative dispute resolution methods, such as arbitration and mediation, have gained popularity as more efficient and cost-effective alternatives to traditional litigation. Both arbitration and mediation offer different ways of resolving conflict outside the courtroom. While they share similarities, they are fundamentally different. Arbitration involves a neutral third party making a binding or non-binding decision, while mediation focuses on facilitating discussion and negotiation between parties without imposing a binding resolution. Please remember that arbitration can be binding or non-binding, depending on the situation.
If you are interested in pursuing mediation or arbitration for a legal matter in Illinois,
Continue Reading How is Arbitration Different from Mediation?

Imagine that you have put your expertise and time into a job, only to find out that you are not being paid as agreed upon. That can get anyone’s blood boiling. But remember that getting paid for your hard work is not just fair—it is your legal right. For the successful collection of professional fees, you need the help of an Illinois attorney with a proven track record of success to resolve your case quickly.
What Are Some Terms I Can Include in an Agreement?
Anyone from a certified tax accountant to a freelancer is considered a professional and
Continue Reading What Can I Do Legally if I am Not Paid for My Professional Services?

Most landlords do not want to initiate the eviction process unless they truly need to. Evictions can be expensive, and you still may not be able to collect past due rents from a tenant who has stopped paying. As a commercial landlord, you have special concerns that a residential landlord may not. Most or all of your clients are likely business entities. Members of the public are often invited into commercial buildings for business purposes, meaning that you have special concerns regarding keeping your building or unit in good repair. Evicting a business entity that has violated its lease
Continue Reading Facts to Know About Commercial Tenant Eviction

As a commercial creditor, it is essential to know how to enforce judgments against debtors. One of the most effective ways to recover the money owed to a creditor is by obtaining a charging order. This legal tool allows a creditor to seize money distributed to a debtor through a limited liability company (LLC) or limited partnership (LP) until the debt is settled. Charging orders essentially serve as a lien on the income earned by a business owner or partner. It is important for creditors to understand when charging orders can be used and the benefits and limitations of this
Continue Reading When Can Charging Orders Be Used to Enforce Judgments Against Debtors?

Companies that are involved in the construction industry may encounter a variety of disputes that require legal action to resolve. These disputes may be related to contracts, payments, defects, or multiple other issues, and if agreements between the involved parties cannot be reached, construction litigation may become necessary. This type of litigation can be very complex, and it may involve a number of different stakeholders, including property owners, contractors, subcontractors, suppliers, and insurers. By understanding the types of disputes that may be addressed through construction litigation, stakeholders can ensure that they are prepared to navigate these situations.
Common Construction Disputes
Continue Reading 7 Types of Disputes That May Be Addressed Through Construction Litigation

In today’s competitive business environment, it is essential to have trust and confidence in the people you work with. This is particularly true for business owners, partners, shareholders, and others who rely on executives and employees to act in the best interests of a company. Unfortunately, breaches of fiduciary duty can occur, and they can result in severe financial and reputational damage to companies. In these situations, it is important for a company’s stakeholders to understand how breaches of fiduciary duty may be addressed through commercial litigation.
Understanding Fiduciary Duty
It is essential for a business’s stakeholders to understand
Continue Reading How Is Breach of Fiduciary Duty Addressed in Commercial Litigation?

When a debtor files for bankruptcy, the court issues a notice to creditors informing them that the debtor has filed. It is important for creditors to respond properly and timely to this notice, and they will be required to file a proof of claim with the bankruptcy court. A proof of claim is a document filed by a creditor to make sure their claims are recognized, that they receive payment for those claims, and that they can be involved in the bankruptcy process. Every creditor must file a proof of claim, or they may risk not being paid during
Continue Reading What Creditors Need to Know About Proofs of Claim in Bankruptcy Cases

Surety bonds are an important part of the insurance landscape. These bonds are a form of financial guarantee that serve to protect a party from the financial losses associated with another party’s breach of contract. They provide a level of protection for both insurers and policyholders when disputes arise. As such, it is important for insurers to understand how surety bond claims work in order to protect their interests and those of their customers.
What Is a Surety Bond?
A surety bond is an agreement between three parties: the principal (the person or business seeking the bond), the obligee (the
Continue Reading What Insurers Need to Know About Surety Bond Claims

It is important for business owners to understand the legal issues that they may need to address when entering into contracts or enforcing the terms of contractual agreements. In some cases, a business may need to address tortious interference. When another party attempts to interfere with a company’s contractual agreements or commercial relationships, these issues may be addressed through commercial litigation. By understanding the principle of tortious interference, business owners can determine the actions they can take to protect themselves from potentially damaging situations.
What Is Tortious Interference? 
Tortious interference occurs when someone intentionally interferes with an existing contract
Continue Reading When Can Commercial Litigation Address Tortious Interference?

There are numerous situations where creditors or other companies may need to address a breach of contract through commercial litigation. A breach of contract occurs when one party fails to fulfill a contractual obligation, resulting in financial losses or other damages for the other party. If a contract has been breached, the non-breaching party may pursue litigation and seek compensation or other remedies from the breaching party. Creditors who need to address issues related to breach of contract will need to understand the remedies that may be available so that they can recoup the losses they have experienced due
Continue Reading What Types of Damages Are Available in Breach of Contract Cases?