Recent News and Transactions

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Our roster of attorneys includes several whose professional insights and viewpoints are in demand, and publish frequently in law bulletins and industry publications. A sampling of recent articles and blog posts are linked here, along with press releases and announcements regarding MPS Law personnel and company news.

January 26, 2023

EMPLOYERS TAKE NOTE – NON-COMPETE AGREEMENTS AT RISK

  Authors: Charles Valente and Heather Kuhn O’Toole The Federal Trade Commission (FTC) is an independent agency of the United States government that is charged with protecting consumers and maintaining competition in the marketplace. Recently, the FTC gave public notice of a proposed rulemaking which would severely limit the use of non-compete agreements in employment…

January 2, 2023

MPS Law Acquires Chicago-Based Kaplan Saunders Valente & Beninati LLP

Meltzer, Purtill & Stelle LLC (MPS Law) is pleased to announce the acquisition of general business practice law firm Kaplan Saunders Valente & Beninati LLP (KSVB), effective January 1, 2023. The move will bolster MPS Law’s commercial real estate, lending, and mergers and acquisitions practice, while adding depth to the firm’s existing expertise in trusts…

November 10, 2022

TENANT’S CLAIM TO RECOVER SECURITY DEPOSIT FROM BANKRUPT LANDLORD MAY BE TREATED AS AN UNSECURED LOAN

Author: Timothy W. Brink

A commercial tenant may expect that its security deposit will be segregated or held in trust by its landlord and therefore be available to be returned to it when the lease is terminated. As explained in a recent New York federal court decision,1 however, if a commercial lease does not require the landlord to segregate…

August 24, 2022

HOW TO PROTECT YOUR BUSINESS WHEN A KEY CUSTOMER FILES BANKRUPTCY

Author: Timothy W. Brink

EDITOR’S NOTE: This article is the second in a three-part series about how small and mid-sized businesses should deal with customers experiencing financial difficulties. The first installment in this series focused on identifying customers that are in financial distress and taking steps to mitigate potential losses in the event a customer files bankruptcy. In this…

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Recent Transactions

This section is devoted to a sampling of representative case summaries showcasing recent successes by MPS attorneys in both transactional and litigation arenas. Check back often for more results, as we update the list periodically.

Closed on the acquisition of a Rockford area site for a new store on behalf of a leading national big box retailer.

Closed a $35 million ADC loan for a Colorado bank financing residential development in the Denver metro area.

Assisted in the operational split between two co-owners of a significant franchise operation with over $40 million in annual revenues.

Obtained dismissal with prejudice of a bankrupt benefit recipient’s motion for sanctions against our client, a leading third-party claims and benefits administrator.

Engaged as Midwest regional outside counsel for a leading commercial real estate lender.

Facilitated the closing of a nearly $3 million asset sale for a household lift installation firm that we previously assisted in a major asset purchase over a decade ago.

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“We’re ready to take the next step. The first was leaving the big firm that was growing too fast. Then it was opening the Chicago office because we needed to grow. Now it’s a matter of changing to meet changes in the market – growing smarter, not bigger. That’s the next step and we’re taking it.”