Hilco obtains affirmance of summary judgment in lawsuit brought by Patriot Group for $30 million in damages
Clients Hilco Trading, LLC; Hilco, Inc.; Linstrom, Jeff; Dratt, Arnold H.; Smiley, Mark A.
Jones Day represented Hilco Trading, LLC and Hilco Inc. on claims brought by Connecticut hedge fund The Patriot Group seeking more than $30 million in damages relating to losses Patriot suffered on an investment of a Hilco Trading subsidiary in the distressed lending market. On December 6, 2016, after more than six years of litigation, the Circuit Court of Cook County granted summary judgment to Hilco Trading and Hilco Inc. on all claims remaining against them. Following two more years of briefing and oral argument, the Illinois Appellate Court affirmed on all counts, and found additional grounds for summary judgment, in a unanimous opinion issued on September 20, 2018.
Patriot Group, LLC v. Hilco Trading LLC, Nos. 17-0345 (Ill. App. 1st Dist.), 10 L 03914 (Cir. Ct. Cook Cty., Ill.)