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Richard Polony concentrates his litigation and counseling practice in the areas of complex commercial litigation and general corporate matters. Mr. Polony advises and represents clients in a broad range of matters involving contract disputes, business torts, real estate, unfair competition, consumer fraud, employee theft and fidelity insurance and class actions. He has extensive knowledge in investigating and litigating employee theft and fidelity insurance claims; investigating and prosecuting securities fraud claims on behalf of investors; representing financial institutions in commercial loan workouts and enforcement of remedies as to collateral and guarantors; and various disputes concerning the Uniform Commercial Code (UCC) including but not limited to sales, negotiable instruments, banking, and secured transactions.

He has tried cases to verdict arising out of misappropriation of trade secrets, breach of fiduciary duties, shareholder disputes, breach of contract and real estate matters.

Mr. Polony has substantial experience in state and federal courts (including bankruptcy), and has handled matters in Illinois, Missouri, Minnesota, Indiana, Wisconsin and Texas.

Professional Background

Mr. Polony joined Hinshaw & Culbertson LLP in March 1995. He is the chair of the Associates Committee, former member of the firm's Executive Committee and former chair of its Practice Group Subcommittee, and founder of the firm's Hispanic Affinity Network. 

Prior to entering the legal profession, he developed an expertise in finance while working for Fortune 100 companies in both the insurance and telecommunications industries.

Professional Affiliations

  • Hispanic National Bar Association
  • Hispanic Lawyers Association of Illinois
  • American Bar Association
    • Fidelity and Surety Committee, Member
    • Minority Involvement and Young Professionals Subcommittees, Past Member
  • Chicago Bar Association's Corporation and Business Law Committee, Past Co-Chair

Honors & Awards

  • Recognized by his peers as a Leading Lawyer in the category of Commercial Litigation.
  • Holds the BV® Distinguished™ Peer Review Rating from Martindale-Hubbell for ethics and legal ability

Presentations

  • "Avoiding 'Oops in Risk of Loss," Society of Risk Management Consultants, Chicago, Illinois, May 2014.

  • "Computer Fraud, Funds Transfer and Loss Sustained vs. Loss Discovered Coverage," Chubb Group of Insurance Companies, Simsbury, Connecticut, April 2014.
  • "Guaranties: How To Avoid Getting Burned," Commercial Loans - Summer Heat Seminar, live videoconference, July 2013.
  • "Lessons Learned in the Downturn," The PrivateBank, Chicago, Illinois, November 2012.
  • "Who Bears the Risk of Loss When Funds Disappear Electronically?", Travelers Insurance Company, Webinar, October 2012 and Training, May 2012.

  • "Article 4A Picks Winners and Losers When a Corporation’s Funds Disappear Electronically," Travelers Insurance seminar, Hartford, Connecticut, September 2009.
  • "Checks, Fraud and the Uniform Commercial Code," CUNA Mutual Group seminar, Madison, Wisconsin, September 2006.
  • "Commercial Cases: Evaluation, Preparation and Litigation," Chicago Bar Association, June 2000.

Publications

  • "When Does a Bribe or Kickback Become a 'Loss' Under a Fidelity Bond," co-author with Hinshaw partner Donald L. Mrozek, IADC Fidelity and Surety Committee Newsletter, May 2001.
  • “Third-Party Losses and the 'Manifest Intent' Requirement,” co-author with Hinshaw partner Donald L. Mrozek, Fidelity & Surety Committee Newsletter, July 1997.
  • "Use of Performance and Payment Bonds in Municipal Construction" Institute for Local Government Law, 1996.

Education

J.D., Illinois Institute of Technology Chicago-Kent College of Law, 1995

B.A., Loyola University of Chicago, 1987

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