Kenneth A. Latimer

Of Counsel

  • Kenneth A. Latimer
  • Phone: +1 312 499 6730

    Kenneth A. Latimer - LinkedIn Import to Address Book

  • Duane Morris LLP
    190 South LaSalle Street, Suite 3700
    Chicago, IL 60603-3433

Kenneth A. Latimer has represented secured and unsecured lenders in financing transactions including asset-based lending, credit enhancements with letters of credit, and real estate and lease financing for more than 30 years. He has also assisted lenders in workout proceedings. In addition, he has represented public and privately held companies in documenting their financial obligations. Mr. Latimer has also assisted financial institutions in mergers and acquisitions and other regulatory issues.

Mr. Latimer has participated in more than 100 workouts of all sizes and complexities on behalf of lenders. This work has included negotiating settlement and forbearance agreements with borrowers, initiating foreclosure proceedings and overseeing the sale of collateral to recoup funds.

Mr. Latimer was elected to become a fellow of the American College of Commercial Finance Lawyers which is one of the highest honors to be given to commercial finance lawyers, and has been listed in Chambers Global: The World's Leading Lawyers as one of the leading banking and finance lawyers in the Chicago area. Admitted to practice in Illinois and the District of Columbia, he is a frequent author and lecturer on topics of secured lending documentation, letters of credit, loan workouts and various aspects of the Uniform Commercial Code. Mr. Latimer has spoken to the Turnaround Management Association, Robert Morris Associates, and the Banking Law Institute as well as other financial industry associations.

Mr. Latimer is a member of the Banking Law and Commercial Financial Services Committee of the Corporation, Banking and Business Law Section of the American Bar Association and is the former chair of the Committee on Banking of the Illinois State Bar Association. He is a member of the Association of Commercial Finance Attorneys and is a founding member of the Commercial Finance Association Education Foundation. Mr. Latimer has also been elected as Regent to the American College of Commercial Finance Attorneys.

Mr. Latimer received a J.D., with honors, in 1969 from The National Law Center of The George Washington University and is also a graduate of the University of Wisconsin.

Representative Matters

  • Represented Balchem Corporation (NASDAQ:BCPC) in its acquisition of Performance Chemicals & Ingredients Company (d/b/a SensoryEffects), a privately held supplier of customized food and beverage ingredient systems, for a purchase price of $567 million in cash.

  • Obtained on behalf of FirstMerit Bank, N.A. an order granting summary judgment in the United States District Court for the Northern District of Illinois against four individual defendants in a large, complicated litigation matter in an amount in excess of $11 million.

  • Represented Koch Foods Incorporated in closing a $450 million loan transaction that involved 28 parcels of real estate in Ohio, Illinois, Tennessee, Alabama, Georgia and Mississippi.

  • Represented JCG Foods, an affiliate of Koch Foods, in winning an auction in connection with an $80 million sale under section 363 of the bankruptcy code, obtaining bankruptcy court approval of the sale and entering into an Asset Purchase Agreement.

  • Represented JCG Foods, an affiliate of Koch Foods, in obtaining a $50 million loan from Rabobank to assist in an acquisition under the bankruptcy code.

  • Represented Eastern Bank, as co-participant with two other institutional lenders, in the purchase of $42 million in tax-free bonds issued by the Massachusetts Development Finance Agency. The purchase was made in conjunction with a $42 million loan to the South Shore YMCA to fund several construction projects, a $1 million revolving credit facility and a $500,000 equipment loan.

  • Represented MB Financial Bank in connection with the sale of large parcels of real estate in downtown Chicago to an investor for $ 20 million. The transaction, which also included the sale of a $10 million loan to a third party, was part of a $30 million complex loan workout.

  • Represented Rabobank in connection with a $35 million secured loan facility to a large Dutch company with operations in the United States.

  • Represented Hinsdale Bank & Trust Co. in connection with a $10 million letter-of-credit transaction to enhance revenue bonds for a non-profit school in the Chicago area.

  • Represent FirstMerit Bank in the liquidation of a $40 million loan portfolio obtained from the FDIC as a result of the failure of George Washington Savings Bank.

  • Represent FirstMerit Bank in the liquidation of a $60 million loan portfolio obtained from the FDIC as a result of the failure of Midwest Bank.

  • Represented asset-based lender in $45 million secured loan transaction involving borrower involved in the auto industry.

  • Represented financial institution as a syndicate member in $270 million secured real-estate financing for large office facility in Chicago, Illinois.

  • Represented borrower in $150 million transaction for the construction of 60- story condominium project in Chicago, Illinois, involving senior and mezzanine debt.

  • Represented borrower in $80 million loan transaction from asset-based lender, the funds of which were used for the acquisition of borrower's largest competitor.

  • Represented financial institution as lead lender in $45 million construction-loan project syndicated to three additional lenders.

  • Represented asset-based lender in $20 million asset-based loan to manufacturing entity involved in the food business.

  • Represented asset-based lender in $35 million transaction to major producer of computer handheld units for use in retail.

  • Represented senior lender in $35 million revolving-credit and term-loan facility to manufacturer with plants in Canada, Mexico and Europe.

  • Represented borrower in $195 million secured term loan and multicurrency revolver for restructuring of borrower indebtedness.


  • Illinois
  • Supreme Court of the United States


  • The George Washington University Law School, J.D., 1969
  • University of Wisconsin--Madison, B.S., 1966


  • Duane Morris LLP
    - Partner, 1999-present
  • Berger, Newark & Fenchel, Chicago, Illinois
    -Partner, 1975-1986
  • Holleb & Coff, Chicago, Illinois
    - Partner, 1986-1999

Professional Activities

  • American Bar Association
    - Business Law Section
    -- Banking Law Committee
    -- Commercial Financial Services Committee
  • Illinois State Bar Association
    - Former Chair, Committee on Banking
  • Association of Commercial Finance Attorneys
  • Commercial Finance Association Education Foundation
    - Founding Member
    - Governing Board
  • American College of Commercial Finance Attorneys
  • Fellow, American Bar Foundation
  • Has served as author and lecturer for the Illinois Institute of Continuing Legal Education and has spoken on a number of topics relating to secured lending, letter of credit and various aspects of the Uniform Commercial Code.

Honors and Awards

  • Listed in The Best Lawyers in America, 2006-2024

  • Named a Best Lawyers "Lawyer of the Year" in Equipment Finance Law, Chicago, 2018 and 2022
  • Listed in Who's Who in the World, 2016
  • Listed in Who's Who in America 1994 through 2016
  • Listed in Who's Who in American Law 1994 through 2016
  • Listed in Chambers USA: America's Leading Business Lawyers, 2003-2011 editions
  • Listed in Chambers Global: The World's Leading Lawyers for Business
  • Selected as Leading Lawyer in the State of Illinois for Banking and Financial Institutions, Commercial Real Estate and Real Estate Finance, 2004 through 2016
  • AV Preeminent® Peer Review Rated by Martindale-Hubbell®

Civic and Charitable Activities

  • President North Suburban Jewish Community Center, 1983-1985
  • Member of the Board of Directors of the Jewish Community Centers of Chicago, 1985-1995

Selected Publications

Selected Speaking Engagements

  • Speaker, Commercial Finance Association's Annual Loan Documentation Seminar, Chicago, Illinois, September 24, 2008
  • Speaker, "Syndicated Loan Transactions, Including Co-Lender and Participation Arrangements," Commercial Finance Association's Advanced Legal Issues Workshop, Chicago, Illinois, April 14-15, 2008
  • Speaker, Loan Documentation Workshop, Commercial Finance Association, Chicago, Illinois, September 27-29, 2006
  • Speaker, Banking Law Institute, Loan Workouts 2002, 2003 and 2004
  • Speaker, Banking Law Institute, Commercial Loan Documentation, 2002 and 2003.
  • Speaker, Turnaround Management Association and Commercial Finance Association, Workout Strategies in and out of Bankruptcy, 2001.
  • Speaker, National Business Institute seminar on Commercial Lending, June 2004
  • "Loans to Multiple Borrowers," Commercial Finance Committee of the Chicago Bar Association, May 20, 2004
  • Speaker, National Business Institute Lending Seminar, Chicago, Illinois, February 10, 2004