Covenant Clearinghouse is pleased to announce the successful conclusion of litigation in the matter of Chicago Title Ins. Co. v. Covenant Clearinghouse, LLC, Cause No. 2023CH0224 (12th Jud. Dist. – Will County, Ill.).
Judge Bennett Braun entered a final judgment in favor of Covenant Clearinghouse, rejecting Chicago Title's claims that the transfer fee covenant at issue was not binding or enforceable under the Illinois Transfer Fee Covenant Act or public policy of the State of Illinois.
Jeff Johnson, former general counsel for Covenant Clearinghouse, and now partner with the law firm Fritz Byrne PLLC of Austin, Texas, handled the case for Covenant Clearinghouse, including in-person arguments before the Illinois trial court.
Matthew T. Kennedy, general counsel for Covenant Clearinghouse, stated, “Jeff and the team at Fritz Byrne did an outstanding job. Judge Braun's judgment validates Covenant Clearinghouse's continued commitment to vigorously defend important property rights in courts across the country.”
About Covenant Clearinghouse: For over a decade, Austin, Texas-based Covenant Clearinghouse has acted as trustee in the administration of assessment rights – also called capital recovery fees or transfer fees – created in connection with hundreds of billions of dollars of planned and existing commercial and residential real estate projects in order to fairly and equitably apportion development costs, lower the burden of home ownership, and provide long-term sustainable funding for non-profits. For more information, visit www.covenantclearinghouse.com
Media contact: Shannon Everson, s.everson@covenantclearinghouse.com
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SOURCE Covenant Clearinghouse LLC
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