Richmond A. Payne’s law practice encompasses business, corporate, and organizational matters as well as personal and banking matters.
In the business, corporate and organizational area, Rich has:
- Served as General or Special Counsel for numerous Chicagoland companies, including companies recognized in Crain’s Chicago List of Largest Privately Held Companies, Fast 50 (Fastest Growing Companies) and Largest Women-Owned Firms.
- Served as General Counsel for Rust Communication, Inc. and subsidiaries, one of the largest independent, family owned newspaper chains in the United States, comprised of 19 daily newspapers, 31 weekly newspapers, 17 radio stations and 7 commercial and quick printing operations in 9 states.
- Structured several hundred new companies and family limited partnerships.
- Completed numerous acquisitions of businesses and assets or real estate ranging from $4 – $18 million.
- Represented companies in spin-off of various real and personal properties into limited liability companies operating in several states and in restructuring to allow for minority interest holders.
- Negotiated leases, employment contracts, executive compensation, publishing, royalties, intellectual property rights, distribution terms, settlements, insurance, agency representation, succession planning, partnerships, shareholder agreements and joint ventures.
- Represented borrowers in numerous loans ranging from small loans to $55 million.
Represented numerous closely held family businesses including succession planning.
In the personal law area, Rich has:
- Served as the Personal General Counsel for high net worth/high income individuals and families, coordinating the work of accounting, financial, insurance and other expert professionals.
In the banking area, Rich has:
- Served as Approved Counsel for many Chicagoland area banks including JPMorgan Chase Bank, N.A., BMO Harris Bank, N.A., Amcore Bank, N.A., Advantage National Bank, Barrington Bank & Trust; Village Bank, Fifth Third Bank and Northern Trust Company.
- Served as the former Outside Regional Counsel for Union Planters Bank, N.A., one of the 30 largest banks in the United States at the time and was responsible for 25 branches in 10 cities comprised of nearly $1 billion in assets.
Notable Cases and Results:
- Business and Corporate Law
- Obtained Temporary Restraining Order and Preliminary Injunction for publicly traded company against start-up competitor using unfair and misleading sales practices
- Represented holding company and 10 subsidiaries in structuring and governance
- Completed Hart/Scott/Rodino filing and review by Federal Trade Commission and Department of Justice
- Banks and Banking Law
- Represented bank in structuring and documenting $5 million loan on shopping mall
- Represented bank in structuring and documenting $6.5 million in loans to multinational real estate development company
- Represented bank in multimillion dollar foreclosures on long term care facilities
- St. Louis University School of Law, J.D. 1987
- Articles Editor, St. Louis University School of Law Journal; American Jurisprudence Award in Products Liability
- Westminster College, (Fulton, Missouri), B.A., Political Science, 1984
- Four-year Presidential Scholarship; Newspaper Editor, Honor Commission Chairman, Delta Tau Delta
Awards; Honors; Distinctions:
- Leading Lawyer, Chicagoland Area
- Top Real Estate-Related Lawyer, Chicagoland Area
- Five-Star Client Review Rated – Martindale Hubbell
- Recognized by Missouri Lawyers Weekly as an expert in banking matters and quoted (page 1) regarding a bank’s duty to inquire and a recent Missouri Supreme Court decision on same
- Published legal writing: “A Proposed New Tort Cause of Action for Breach of the Implied Covenant of Good Faith & Fair Dealing in Commercial Contracts in Missouri,” St. Louis University School of Law Journal
- Rich is actively involved in his community serving in Director, Officer and other capacities in his church, Willow Creek Community Church, United Way, Young Life, Chamber of Commerce and Lions Club. He is the former Chairman of the Board of Bright Hope International and a member of the Hoffman Estates Economic Development Commission and Board of Governors of The Northwest Executive Club of Chicago.