LaSalle Bank, N.A. v. Cypress Creek 1, LP Decision from Illinois Supreme Court
In past posts we’ve been following this case as it wound its way through the Illinois judiciary up the the Illinois Supreme Court. This morning, the Supreme Court issued this decision (PDF). The Justices decided that a lender gets priority to the extent their loan proceeds paid for property improvement, regardless of whether the contractors paid with those proceeds timely, or properly, perfected mechanics liens.