Lawrence W. Byrne

Overview Larry Byrne is a member of Pedersen & Houpts Litigation and Dispute Resolution Practice Group. His practice is enhanced by his experience as a trader and as a manager of a trading fund at the Chicago Mercantile Exchange, where he engaged in arbitrage between various financial products. This experience has given Larry a deep understanding of complex financial instruments and matters. One of the first lawyers to obtain a successful verdict from the Financial Industry Regulatory Authority (FINRA) in an Auction Rate Securities (ARS) case, Larry represents clients in state and federal court at both the trial and appellate levels as well as in private arbitration. His clients include numerous Miami and Chicago-based businesses. He has successfully represented several real estate companies in both their transactional and trial work, taking many cases to judgment. He has litigated and defended the appeals in many Business Corporation Act cases. He has significant experience in representing lenders confronting the foreclosure of office parks, shopping malls, and other commercial real estate. He has represented companies in litigation by or among shareholders and has successfully represented an area auto parts retailer in defending against shareholder oppression claims. Additionally, he has successfully enforced judgments, including in circumstances when the debtors assets were secreted off-shore. He has prevailed in the defense of clients involved in Consumer Fraud Act claims, Truth in Lending claims, TCPA claims, class action claims, as well as consumer-oriented and financial disclosure-related lawsuits. He has advised Chicago area businesses on options for restructuring their businesses to minimize liability and potential litigation. A seasoned family law practitioner, Larry draws on his financial and investment background to counsel clients about the impact of the division of marital and non-marital assets and determination of the fair value of closely-held businesses as well as avenues to find hidden assets. He is a member of the Chicago Bar Association and the Federal Trial Bar. He is licensed in Illinois, Florida and Wisconsin, and has defended and prosecuted cases in New York, California, Nevada, Michigan, Oklahoma and other jurisdictions. Representative Experience Obtained a $2.5 million verdict against a financial advising firm for violating Rule 10(b) and other securities acts related to the sale of Auction Rates Securities (ARS) that were represented to be cash equivalents. As one of the first significant ARS cases, the verdict was covered by The Wall Street Journal. Several other verdicts on this subject were subsequently obtained. Sucessfully defended Federal and State trade secret cases in Florida, New York and Illinois. Represented shareholders of a closely-held internet company valued at $10 million in claims against a rogue shareholder who transferred and secreted company funds offshore, obtaining a $3 million judgment in shares and sanctions for the clients. Received a not guilty verdict for an auto dealership that was accused of using one plaintiff as a straw purchaser for a second plaintiff. Obtained and subsequently successfully defended a summary judgment on appeal on behalf of a car dealer involved in a Magnuson-Moss breach of warranty claim. Prevailed in a bench trial defending a real estate investment company in a multi-count complaint that included claims for breach of contract and unjust enrichment. Obtained possession of seven (7) separate pieces of real property through a strict foreclosure for a mezzanine lender who was in a third position on most of the properties. This case involved the successful litigation of a foreclosure matter transferred to the Bankruptcy court, as well as foreclosure matters and work-outs with senior lenders. Foreclosed on a commercial high rise in the Chicago Loop and restructured the debt between the senior and junior lenders. Obtained a judgment in excess of $18 million dollars in a family law matter. Obtained sole custody for a father in spite of the attorney for the child and the courts 604(b) expert recommending custody to the mother. Successfully enforced judgments including asset searches and collections from off-shore bank accounts. News & Alerts News SBA Loans to Help your Business Weather the Storm March 2020 Alerts Proposed Change to Independent Contractor Rule October 2022 Limitation on Restrictive Employment Covenants September 2021 Congress Reaches Deal on Second Stimulus Package - COVID-19 Legislation December 2020 UPDATE - Government Adds Flexibility to PPP Loans - COVID-19 Legislation June 2020 Bankruptcy Court: Force Majeure Clause Partially Excuses Illinois Restaurants Rent Obligations During COVID Shutdown June 2020 You Received your PPP Loan How do you Apply for Payment Forgiveness? SBA Releases Forgiveness Application - COVID-19 Legislation May 2020 SBA Clarifies Review of PPP Good-Faith Certification Requirements - COVID-19 Legislation May 2020 You Obtained your PPP Loan, Now What? Maximizing the Loan Forgiveness - COVID-19 Legislation May 2020 SBA Extends Safe Harbor Period - COVID-19 Legislation May 2020 SBA Clarifies PPP Disbursement Rules - COVID-19 Legislation April 2020 More PPP Funds in the Pipeline - COVID-19 Legislation April 2020 Paycheck Protection Program (PPP) Q+A Webinar April 2020 Publications Publications Limiting Liability Under the Fair Credit Reporting Act (FCRA) and the Equal Credit Opportunity Act (ECOA)The National Association of Dealers Counsel Winning a Contested Custody Case in the Face of an Adverse Position of the Child Representative and the Courts Appointed 604(b) EvaluatorStrategies for Family Law in Illinois. 2014 Edition. 2013 Inside the Minds: Strategies for Family Law in Illinois, 2014 ed. Thompson Reuters, November 2013 Limiting Liability Under Adverse Action Notice Requirements October 2005 Professional Affililations Professional Affiliations Chicago Bar Association Illionois Trial Lawyers Association Community/Civic Activities Community Worked with an organization to provide housing for disabled adults. Previous Board member for Dance Center focusing on the Arts