Category Archives: Courts and legal
Colorlab alleges former employees stole trade secrets
Colorlab Cosmetics Inc., the Fifth Avenue, Rockford-based company that sells custom-blended makeup in such places as London and Mexico City, is suing two former employees and another family member for allegedly stealing proprietary information to set up a rival cosmetics company.
Colorlab filed suit in November against Kathryn and John Copeland, who are married, and their company, Iro Custom Cosmetics, as well as the Copeland’s son, James.
Both Kathryn and James are former employees of Colorlab, which was started in 1996 by owner Mary Swaab. Swaab is a former makeup artist who developed a system to create custom lipsticks in …
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Posted in City of Rockford, Courts and legal, Manufacturing, Rockford
Bankruptcies sink to nearly 3-year low
There were 171 bankruptcies filed in November from residents or business owners in Boone, Ogle, Stephenson and Winnebago counties.
That was nearly 27 percent fewer than the 233 bankruptcies filed in November 2010, and it was the lowest number of bankruptcies for a month since January 2009.
November also marked the 18th straight month that bankruptcy filings were down year over year, giving more proof that despite the national headlines the economy continues to show improvement.
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Posted in Courts and legal, Econ Scorecard, Economy
Western Springs developer not part of foreclosure suit
Mike Kaspar, who used to be a partner with Rockford developer Steve Murphy, provided documentation showing he is not part of a foreclosure action involving Rockford land that was supposed to be home to a Walgreens.
Nevard Investments, an LLC set up by Kaspar and his family, was an original investor in KMD of Auburn, which owes more than $730,000 in principal and interest on a mortgage of land on the northwest corner of North Main and Auburn Streets.
Kaspar though sent documentation that Nevard Investments severed ties with KMD of Auburn in 2009.
Murphy is the sole investor affected …
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Posted in Courts and legal
Downtown developer declares bankruptcy
Chandler Anderson, a developer who invests his efforts into improving downtown rather than building on the city’s edges, declared Chapter 7 bankruptcy.
In the initial filing, turned in Oct. 31, Anderson didn’t list assets or debts, other than to check off that he has assets between $500,001 and $1 million and debts of $1,000,001 to $10 million.
Anderson, who also sits on the Rockford Housing Authority board of commissioners, has renovated dozens of downtown and midtown homes since 1992. His last project was his most ambitious. Anderson, along with Joseph Morriessey, father of Rockford Mayor Larry Morrissey, was behind the …
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Posted in construction, Courts and legal, Real estate, Rockford
Tagged bankruptcy, Garrison Lofts
Prominent North Main, North Alpine developments in foreclosure
The proposed home of a Walgreens drug store on the corner of North Main and Auburn Street and the ambitious Guilford Crossings subdivision that stretches from North Alpine Road to Mauh-Nah-Tee-See Country Club are being foreclosed on by Associated Bank.
Green Bay, Wis.-based Associated Bank filed the foreclosure suit Oct. 14 against KMD of Auburn LLC, Guilford Crossings LLC and Steven S. Murphy.
The suit alleges that KMD of Auburn LLC, whose principal investors are Murphy and Mike Kaspar, a former partner in the Murphy Group Companies, mortgaged the North Main-Auburn Street property in September 2008 for $725,000. As of …
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Posted in construction, Courts and legal, Economy, Real estate, Rockford, Uncategorized
