Can you pay the bills?


A company with the size and reputation of Chartwell will have expenses; A business costs money to run and you need to invest in it to see the fruits of your labor. For most entrepreneurs, that means borrowing money, whether it’s just to begin, or if it’s to take your company to the next level.  With such a large judgment placed on Chartwell from the IRS, you would expect Tracy Kidan and Holmes Lilley to be a little more conscientious with any further financial matters. You would expect this, but be sorely disappointed. According to a May 2019 report from IssueWire (here), Tracy Kidan and Holmes Lilley defaulted on a loan they received from Citizens Bank through a secondary lender, who filed the suit in late March 2019 in Cook County Circuit Court for $4,567,438.



(You can find the case by clicking here , searching by name “Kidan” through the “Law” division, and on the next page selecting the top result.)



The plaintiff, LQD Business Financial Services LLC, alleges that earlier in the year Tracy Kidan (with Lilley providing a personal guaranty), took out a $4.3 million-dollar loan which she is now not paying on.  The judge sided with the plaintiffs and on the 16th of April he entered a judgement against Tracy Kidan and Holmes Lilley for the requested 4.3 million plus fees. While the defendants Lilley and Kidan could still appeal, this lack of fiscal irresponsibility seems to be the rule rather than the exception, so the certainty with which they may succeed in such could be debated. 

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