Weissberg and Associates LTD

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Mon - Fri:	9:00 am - 5:00 pm

Places Near Chicago with Attorneys

Wrigleyville (3 miles)
Cicero (11 miles)
Oak Park (13 miles)
Berwyn (14 miles)

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Extra Phones: Phone: (312) 663-0004
Neighborhoods: Central Chicago, The Loop
AKA: Weissberg & Assoc Ltd
Categories: Attorneys, Bankruptcy Law Attorneys, Bankruptcy Services, Business Law Attorneys, Business Litigation Attorneys, Construction Law Attorneys, Corporation & Partnership Law Attorneys, Divorce Attorneys, Estate Planning, Probate, & Living Trusts, Family Law Attorneys, Landlord & Tenant Attorneys, Legal Service Plans, Real Estate Attorneys, Wills, Trusts & Estate Planning Attorneys

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Phone: (312) 663-1514

Address: 401 S La Salle St Ste 403, Chicago, IL 60605

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Weissberg and Associates LTD

Divorce

Business and Corporate Law

Corporate Law
One of the key components to real estate ownership and development — and the operation of any business — is financing. Our firm is highly successful at negotiating and documenting loan transactions with investors and credit facilities. We are expert at documenting relationships, especially business combinations, within the context of partnerships, limited liability companies, and corporations (shareholder agreements, operating agreements, asset purchase agreements, and stock purchase agreements).
Business Formation
I have been associated with Weissberg and Associates, Ltd, since 2006 and was made a partner in 2019. I concentrate my practice on complex business and real estate litigation matters. I counsel and advocate for clients through all phases of business formation through litigation of businesses. My practice includes the preparing and negotiating all business and real estate-related contracts. I also handle all phases of litigation, including, pre-litigation, discovery, settlement negotiation, trial, mediation or arbitration, post-judgment proceedings and appeals. I have successfully argued in front of the 7th Circuit Court of Appeals and the Illinois Liquor Commission in Springfield, Illinois.
Business Disputes
Real estate is a recurring and pervasive theme in bankruptcy, as is true in most contexts of business law. But in bankruptcy, there are additional important components that require the practitioner to meet the challenges of protecting and advancing a client’s rights, whether a debtor or a creditor
Limited Liability Companies

Real Estate Litigation
The firm’s business can be separated into three categories: transactional work with small businesses, emerging companies, and entrepreneurs; business litigation — especially all aspects of real estate litigation and high-risk disputes requiring experienced trial counsel; and work related to insolvency, especially all aspects of distressed real property, bankruptcy and forfeitures.
Construction Litigation
Perhaps the most common issues in bankruptcy center on a mortgagee or a non-consensual lien claimant (e.g., mechanic’s lien claimant, judicial lien claimant or tax lien claimant) seeking to modify, annul or vacate the automatic stay mandated by Section 362 of the Bankruptcy Code to enforce the lien claimant’s rights outside of the Bankruptcy Court. For a mortgagee, that typically means seeking an order from the Bankruptcy Court allowing the mortgagee to complete a foreclosure all the way through to confirmation of a judicial sale. For a mechanic’s lien claimant, the reception for adjudicating rights in the Bankruptcy Court is less welcoming: very often the mechanic’s lien claimant is sent back to the state court to adjudicate the extent and priority of lien rights in the subject real property, but the mechanic’s lien claimant is not allowed to proceed to judicial sale or confirmation of a judicial sale (unless the mechanic’s lien is part of a mortgage foreclosure case). Most bankruptcy judges dislike acting as the trier of facts on mechanic’s lien litigation, and correctly perceive that state court judges sitting in mechanic’s lien sections as having much greater expertise, and often greater patience, to adjudicate the fact-intensive construction issues arising in complex mechanic’s lien cases with multiple lien claimants. Thus, many mechanic’s lien claimants have their claims adjudicated in state court, and once adjudicated, they return to the Bankruptcy Court for the administration of their claims based on priorities for distribution set forth in the Bankruptcy Code.
Easement
Landlord-Tenant Disputes
But even the less experienced lawyer can find solace that real estate issues in bankruptcy are often, literally, concrete. One of these issues involve landlord-tenant relationships, with the ability to reject (i.e., terminate) an unexpired lease that is burdensome financially, with a debtor-generous cap on liability; or the ability to assume the lease, with the conditions precedent of curing pre-petition defaults within a reasonable amount of time and providing adequate assurance of future performance to the landlord.

Trusts and Estates

Estate Planning
Because of Ariel Weissberg’s broad experience with real estate litigation, litigation in transactions, and working with mortgage companies and credit facilities, he is sought out for his skill in real estate reorganizations, re-structuring failing real estate developments, and formulating strategies for the acquisition of distressed real property.
Probate

Bankruptcy
Another pervasive issue relating to real estate is “single asset” bankruptcy cases, where the sole asset of the debtor is one unit of real estate, like one shopping center or one hotel or one multi-family residential building. Here, the debtor is the owner of fee simple title or the owner of the beneficial interests in the land trust that owns fee simple title in the subject real estate. Typically, in this context, the precipitating events for the filing of the petition to initiate the Chapter 11 bankruptcy case (i.e., to take advantage of the automatic stay) is a foreclosure action, where the debtor is faced with loss of control of the real property by the imminent appointment of a receiver, or a judicial sale is approaching (note: if the judicial sale occurs, in this judicial circuit, the debtor has forfeited the property for bankruptcy purposes, even though the court has not entered an order confirming the judicial sale. Thus, whether in a Chapter 7, Chapter 13 or Chapter 11, the petition must be filed before the judicial sale for the debtor-fee holder to reorganize or assert bankruptcy rights using the subject real property). In a “single asset bankruptcy,” there are strict, time-sensitive requirements for the debtor to achieve a reorganization in a Chapter 11.
Foreclosure
Today, more than ever before, we are bombarded with “get-rich-quick” schemes in the media. In this modern electronic age of 24/7 where the separation between work and pleasure is blurred by constant demands for higher and more immediate productivity, the allure of these so-called business opportunities with the promise of more money with less work is the modern “cry of the sirens”: even the most sophisticated among us are drawn toward the dream of chucking the “rat race” in favor of working as your own boss, making huge dollars. Today, one of the most heavily advertised opportunities on the internet, (seemingly second only to the spam avalanche for increased sexual performance) is buying and selling distressed real property. Here, supposedly free lists of foreclosures are marketed with the “promise” that even the uninitiated in real estate investment can profit greatly. If you are looking for quick solutions, click on the “Viagra” advertising, because speculating in distressed real property, while potentially very profitable, requires much more knowledge and attention to detail than advertised. So, before you yell, “Take This Job and Shove It,” and delve into the list of properties in foreclosure for “buy low, sell high” opportunities, this article will provide you with some practical suggestions for avoiding a bad investment experience with distressed real property, potentially leading to your own financial distress.

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