Ronald A. Damashek

Ronald A. Damashek
Member

(312) 377-7858 phone
(312) 423-8160 fax
rdamashek@stahlcowen.com
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Mr. Damashek is a peer designated member of the Illinois Leading Lawyer Network and a 2012 Illinois Super Lawyer in Business Litigation. He co-chairs Stahl Cowen's litigation department, where he focuses on resolving disputes involving real estate and financial industry issues. In addition, he has extensive experience in general commercial litigation, regularly handling cases involving breaches of contract and fiduciary duties, fraud, statutory violations, and corporate and partnership disputes. He has settled, arbitrated, and tried cases, and stands ready to pursue his clients' interests aggressively and efficiently in any forum.

Areas of Experience:

As counsel to secured creditors, he regularly advises clients on purchase and assumption and loss share rights and obligations, litigates and works out troubled loans, and resolves disputes with competing claimants and loan participants. He has foreclosed hundreds of commercial mortgages on properties ranging from downtown office buildings to a suburban golf course, represented secured creditors in bankruptcy proceedings, and worked with, and represented, court appointed receivers.

As counsel to title companies, he litigates, arbitrates, and mediates claims involving title defects, title insurance coverage, competing lien priorities, title and loan fraud, boundary disputes, and agent liability. He is Chair-Elect of the ABA Title Insurance Litigation Committee and periodically represents the Illinois Land Title Association as amicus curiae on appeals of title issues of state-wide concern.

As counsel to condominium associations, he resolves disputes concerning turnover, non-payment of assessments, owner property rights, election procedures, and construction defects. He also frequently prepares and enforces association contracts and guides condominium boards in interpreting and complying with the Illinois Condominium Property Act and association declarations, by-laws, rules and regulations. He also regularly represents developers, property owners, and contractors in the resolution of real estate disputes, such as controversies involving municipalities, development partners, adjoining property owners, contractors, landlord-tenant relationships, and mechanic's lien claims.

Representative Matters:

  • Foreclosed $100,000,000+ of mortgages on a wide variety of properties, including downtown office buildings, shopping centers, apartment buildings, residential developments, vacant developable land, and a golf course.
  • Negotiated, documented and enforced forbearance and settlement agreements involving $100,000,000+ in mortgage loans.
  • Counseled a bank regarding a $500,000.00 set off against a borrower's bank account followed by a successful negotiation of a forbearance agreement involving the borrower's remaining $5,000,000+ line of credit and industrial revenue bond indebtedness.
  • Negotiated and documented intercreditor agreements with a mezzanine lender regarding lien priorities in millions of dollars of borrower deposits and the borrower's LLC membership interests.
  • Validated mortgage liens and established lien priority in the face of varied and extensive challenges.
  • Obtained $500,000+ in recoveries from title agents and restitution from criminal defendants on behalf of title insurance companies.
  • Defeated over $600,000 in mechanic's lien claims on behalf of mortgage lender through summary judgments based upon the lien claimants' failure to comply with the Illinois Mechanic's Lien Act.
  • Established $1,000,000+ enhancement value for mechanic's lien claimant in trial against mortgage lender asserting a priority lien.
  • Defeated two $300,000+ contractor's claims in separate arbitration and trial proceedings, obtaining $100,000 in awards in favor of property owners.
  • Successfully resolved a half million dollar mortgage fraud scheme by a foreign national who fled the country after taking out mortgage loans from four different lenders on the same property.
  • Obtained injunction to enforce condominium unit owners' right to run for condominium board positions in annual election.
  • Forced condominium developer to make repairs and compensate condominium association for defective construction.
  • Streamlined condominium lien collection and contract documentation process by standardizing procedures and forms.

Education
Georgetown University Law Center - J.D., cum laude, 1982
Northwestern University - B.A., cum laude, 1979
Bar Admissions
  • Illinois (1982)
  • Federal Trial Bar (1989)
  • U.S. Supreme Court (1996)
Court Admissions
  • United States District Court for the Northern District of Illinois (1982)
  • United States District Court for the Seventh Circuit Court of Appeals (1990)