Lou Chronowski and Kirsten Wendela Mentioned in Chicago Daily Law Bulletin

“Panel Upholds ‘Reasonable’ Commission Forfeiture Provisions in Contract”

Lou Chronowski and Kirsten Wendela were mentioned in the article, “Panel Upholds ‘Reasonable’ Commission Forfeiture Provisions in Contract,” published in the October 29, 2007 issue of Chicago Daily Law Bulletin. The article details the First District Appellate Court’s judgment against Chicago-based mortgage loan broker Chicago Financial Services inc. for breach of contract with Emigrant Mortgage Co. Inc.

Cook Country Circuit Judge Wayne D. Rhine awarded Emigrant $109,800 in damages and $53,800 in attorney fees and costs after a 2005 bench trial. Justice Robert E. Gordon upheld the lower court decision, and Justices Robert Cahill and Warren D. Wolfson concurred in the 13-page opinion. Lou remarked that he was pleased with the court’s ruling, noting that the court found no evidence that Seyfarth Shaw’s client, Emigrant, acted in bad faith in enforcing the prepayment provision of their contract with Chicago Financial Services. Lou and Kirsten represented Emigrant in the matter.