Tuesday, August 31, 2010

Update on the Distress Warrant

So, it has been awhile since I last posted. As you may recall, we had filed a distress warrant in DuPage County. Regrettably, before it could be litigated properly, the tenants filed bankruptcy. We had to stop all proceedings immediately due to the automatic stay and a judge ordered us to return their property after the Defendants filed an emergency motion. So, we got the stay lifted but the tenants ended up abandoning the property anyway. I was happy that our clients got to re-let the premises but I would have liked to have seen what would have happened if the tenants had not filed bankruptcy. Would our security interest in the seized property be upheld by the court? Fortunately, we had another similar situation in Kane County. That warrant was issued, the property was seized, and the matter is up for a hearing here in September. Hopefully, this one will get litigated so we can all see if the courts will uphold these actions. Stay tuned!

1 comment:

Michael W. Huseman said...

Cool. Keep us posted on the results of the Kane County case.