Cases & Deals

Hilco Trading obtains partial summary judgment dismissing claims related to $30 million loan

Clients Hilco Trading, LLC

Jones Day represents Hilco Trading, LLC, a Chicago-based financial services company, in litigation brought by Connecticut-based hedge fund The Patriot Group relating to a $30 million loan Patriot made to Hilco Trading's former subsidiary, Hilco Financial LLC, prior to the 2008 recession. In 2011, the court dismissed much of Patriot's complaint. In May 2016, Hilco Trading was granted partial summary judgment on many of Patriot's remaining claims, leaving a single count for common law fraud pending.

The Patriot Group LLC v. 1310 Financial, Case No. 10-L-3914 (Cir. Ct. Cook Cty., Ill.)