Mortgaged Security Deposits Class Action

     The class consisted of renters at a large Chicago apartment complex near O'Hare.

     In this case, it was claimed that the landlord illegally mortgaged tenants' security deposits.  A ruling on defendants' motion to dismiss that claim yielded a favorable written ruling on "encumbered deposits" under RLTO § 080(a). 

     Damages equal to two-times each tenants' security deposit were sought for this allegedly unlawful subjection of tenant security deposits to the claims of landlords' creditors. 

     The case settled, with payments made to class-members in the winter of 2008, without any admission of wrongdoing by the landlord.  If you have questions about your status as a class-member, please contact mark@depositlaw.com.