B. Lane Hassler, P.C. attorney at law in Chicago and New York

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Chicago Office
1016 West Jackson
Suite #100
Chicago, IL 60607
Tel: 312-893-0551

New York Office
80 Broad Street
Fifth Floor
New York, NY 10004
Tel: 877-394-2185

lanehasler@blhpc.com


BLHPC NEWS ARCHIVE - 2011



VIEW B. LANE HASLER, P.C. CURRENT LEGAL NEWS - 2014

Dec. 2011

B. Lane Hasler PC stabilized four construction projects owned by different individuals and entities who had the same general contractor that ceased operations without notice. The owners were (a) advised of their legal rights and shepherded through the process of terminating the failed general contractor while preserving claims against it; (b) guided through the process of retaining replacement general contractors; and (c) assisted in documenting the legion of claims resulting from the general contractors' failure.

Nov. 2011

B. Lane Hasler PC represented the managing member and primary owner of a $3 million revenue limited liability company in raising additional capital from other members in a manner that provided additional equity to the investors while preserving managing member's management rights.

Oct. 2011

B. Lane Hasler PC restructured a contract between its service industry client and the client's customer which had fallen behind on its payments yet was regarded as a still valuable source of future income for the client. The restructured contract reaffirmed the debt owed, established payment terms for the past due and new services provided going forward, and provided for collateral for the amounts due. The overall cost to the client was less than the cost that a collections firm would have charged to collect the old debt and using B. Lane Hasler PC allowed the client to preserve the relationship with its client going forward in a way that protected the client from further potentially bad debt.

Sep. 2011

B. Lane Hasler completed a project which began when the firm was retained by a chapter 7 bankruptcy trustee in a corporate liquidation case that had been pending for over a year with few assets identified to date and a projected zero distribution to creditors. B. Lane Hasler sought out all available business records, interviewed former employees and assembled a master list of potential assets including preferential transfer recoveries. A program of negotiating voluntary turnovers of funds followed by the filing and prosecution of 22 litigations resulted in a six figure recovery for the bankruptcy estate and a distribution for creditors.

Aug. 2011

B. Lane Hasler PC represented a $5 million revenue limited liability company in restructuring existing bank debt as part of moving its banking relationship to a new institution. Lane Hasler was able to negotiate a limitation on the owners’ guaranty liability for the bank debt such that the guaranties will “roll off” if certain earnings and asset covenants are met over time. The owners stated that this result alone was worth the time and fees spent in getting the deal done.

July 2011

B. Lane Hasler PC represented a service corporation in defending a claim for recovery of alleged preferential transfers made by a bankruptcy trustee. The amount at issue was in the mid six figures not including the claim for interest and attorney fees. Lane Hasler worked with the client to prepare “ordinary course” and “new value” defenses which lead to a settlement at a modest amount payable over time. The total cost to the client (of the settlement plus legal fees) was far less than the original settlement offer by the bankruptcy trustee.

June 2011

B. Lane Hasler PC represented a service corporation in working out termination of two ongoing contracts and settlement of amounts due. The service corporation avoided ongoing obligations and received substantial payment on outstanding invoices.

May 2011

B. Lane Hasler PC represented a growing service corporation in extricating itself from a factoring arrangement as part of its transition to a traditional banking relationship. After difficult negotiations, the factoring company was convinced to scale back its fees and turnover all receivables.

Apr. 2011

B. Lane Hasler PC represented a mid-sized manufacturing corporation in reviewing its corporate organization, documentation of the relationship of its equity owners, financial statements,existing credit accounts and employee contracts all in preparation for finding a new banking relationship. The legal services assisted the company in being in the best position possible to replace its existing bank with one that offered better pricing and service.

Mar. 2011

B. Lane Hasler PC structured and documented a buyout arrangement between the two equity owners of a mid-sized company pursuant to which one equity owner purchased the interest of the other, but the selling owner continues to work for the company and retains an option to repurchase his interest. This transaction allowed the equity owners to adjust their respective investments and returns from the company in order to meet their personal needs.

Feb. 2011

B. Lane Hasler PC represented a mid-sized service corporation which had been named a “respondent in discovery” in an Illinois state court litigation. The client’s document production was assembled and reviewed and answers to interrogatories were prepared, all with the goal of full and complete disclosure as required but also with a focus on educating the plaintiff’s counsel that there was no basis to name the client as a defendant in the action.

Jan. 2011

B. Lane Hasler PC completed a corporate legal review for a $5 million revenue service company which resulted in correction of issues relating to corporate records, improvement of corporate protection for the owners and managers, and rewriting sale contracts to improve collections. B. Lane Hasler PC continues to work with the business in daily operations to practice “preventative law” in avoiding potential legal problems.

The information on this website is for general information purposes only. Nothing on this website should be taken as legal advice for any individual case. The information on this website is not intended to create an attorney-client relationship. BLHPC only accepts clients after personal consultation and execution of a written retainer agreement.


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