- Bank Defense
- Bankruptcy, Restructuring and Workouts
- Commercial Foreclosure and Real Estate Litigation
- Commercial Litigation and Alternative Dispute Resolution
- Consumer Finance Litigation
- Corporate Counseling
- Claims and Recovery Litigation
- Fiduciary Litigation
- Workouts and Out-of-Court Restructurings
DePaul University College of Law, J.D., 1998
University of Illinois, B.A., Political Science, 1994
U.S. District Court, Northern District of Illinois
U.S. Court of Appeals for the Seventh Circuit
U.S. District Court, Central District of Illinois
U.S. District Court, Southern District of Indiana
American Bankruptcy Institute
American Bar Association
- Member of Business Law, Litigation, Business Bankruptcy and Consumer Rights Litigation Committees
Turnaround Management Association
Jim Sullivan is a partner in Chapman’s Litigation and Bankruptcy and Restructuring groups. Jim is involved in complex commercial banking restructurings and workouts, in- and out-of-court, on behalf of national and regional financial institutions, private equity funds, insurance companies, and other creditors. Jim represents creditors, both secured and unsecured, in bankruptcy proceedings throughout the country. His financial institution representation also focuses the Uniform Commercial Code, federal and state banking statutory and regulatory compliance, fraud claims, employee rights issues, and consumer finance claims.
Representative Recent Matters
- Representation of major national and regional banks on numerous multimillion-dollar credits outside of and in bankruptcy.
- Obtained fraudulent conveyance judgment against former wife of banking client’s borrower that accepted transfers of fine art work and other assets from husband after husband had been indicted on federal fraud charges, and successfully defended appeal of judgment in Illinois First District Appellate Court (and subsequently collected entirety of judgment and post-judgment interest from judgment debtor).
- Representation of landlords and REITs in large national retail Chapter 11 proceedings.
- Pro bono representation of ethnic minority foundation seeking sales tax exemption from State of Illinois; pro bono representation of disabled individuals before the Illinois Human Rights Commission and Equal Opportunity Employment Commission; pro bono representation of not-for-profit organization committed to serving low income Chicago families in negotiations of tax liabilities with the Internal Revenue Service.
- Co-Author, "Sixth Circuit Holds That a Perfected Assignment of Rents Precludes a Debtor's Use of Rents as Cash Collateral," Client Alert. May 23, 2017.
- Co-Author, "Victory for Debt Collectors in First of Two Landmark Supreme Court Cases," Client Alert. May 19, 2017.
- Co-Author, "In Case of First Impression, Illinois Appellate Court Holds That Senior Lender's Material Breach of Intercreditor Agreement Warrants Partial Subordination of Senior Debt," Client Alert. May 10, 2017.
- Co-Author, "Not Everything You Bargained For? Ninth Circuit Holds That a Secured Creditor Holding a Non-Recourse Mortgage is Barred from Asserting a Deficiency Claim Following the Foreclosure of the Collateral," Client Alert. May 5, 2017.
- Co-Author, "Notable Updates in the Law of the Uniform Commercial Code," Client Alert. May 2, 2017.
- Co-Author, "Injunction Halts New Overtime Rule from Going into Effect," Client Alert. November 28, 2016.
- Co-Author, "Is Momentive Losing Momentum?," Client Alert. November 21, 2016.
- Co-Author, "From 12 to 6 and Back Again: Illinois Supreme Court Strikes Down Statute Mandating Six-Member Juries in Civil Trials," Client Alert. October 5, 2016.
- Co-Author, "Tax Sales and Fraudulent Transfers: Two Approaches," Law360. September 27, 2016.
- Co-Author, "States Seek to Block New DOL Overtime Rule," Client Alert. September 22, 2016.
- Co-Author, "In Departure from Seventh Circuit, Ninth Circuit Holds Tax Sales Are Not Fraudulent Transfers," Client Alert. September 19, 2016.
- Co-Author, "The Seventh Circuit Ups the Ante in an Instructive Decision Affirming the Power of Bankruptcy Courts to Stay Litigation," Pratt's Journal of Bankruptcy Law. April/May 2016.
- Co-Author, "Department of Labor Issues Final Overtime Rule — What to Know Right Now," Client Alert. May 18, 2016.
- Co-Author, "Be Prepared: New Department of Labor Overtime Rules Move Toward Finalization," Client Alert. March 23, 2016.
- Co-Author, "Make-Whole Update: Delaware District Court Follows New York's Lead in Disallowing Make-Whole Premium in Bankruptcy — Dispute Moves to Third Circuit," Client Alert. February 29, 2016.
- Co-Author, "Seventh Circuit Holds Illinois Tax Sales May Be Set Aside as Fraudulent Transfers," Client Alert. January 27, 2016.
- Co-Author, "Hidden Mortgagor-Tenants in Illinois Commercial Properties," Law360. November 16, 2015.
- Co-Author, "Judgment Creditors: How Building a Strong Record During Citation Proceedings Can Pay Dividends in Bankruptcy," Pratt's Journal of Bankruptcy Law. September 2015.
- Co-Author, "Illinois Takes on Paper Terrorism and the Sovereign Citizen," Chapman Sidebar. June 30, 2014.
- Co-Author, "Senate Bill 56 (735 ILCS 5/9-207.5): New Protections Offered to Illinois Renters," Client Alert. September 3, 2013.
- Moderator, "Checking Out?: Retail Bankruptcy Issues for Lenders and Lessors," 6th Annual Bank & Financial Institutions Special Assets Forum on Real Estate, C&I and SBA Loans. September 15 – 16, 2016.
- Panelist, “Financial Institutions Beware — The Fair Labor Standards Act: What it Means, Upcoming Changes and Tips to Avoid Liability,” Chapman’s CLE Marathon. May 11, 2016.
- Moderator, "Receivers: When and How Should You Use Them," Midwest Bank & Financial Institutions Special Assets Forum on Real Estate, C&I and SBA Loans. September 17-18, 2015.
- Featured Panelist, "Recent Developments in Bankruptcy," Monthly meeting of the Chicago Mortgage Attorneys Association. March 18, 2015.