Mealey's (January 25, 2023, 10:23 AM EST) -- CHICAGO — In a lawsuit brought by an Illinois transportation services company alleging breach of contract, unjust enrichment, breach of fiduciary duty, negligent misrepresentation and promissory estoppel against a bank after the bank determined that only $53,017 of a $1.5 million Paycheck Protection Program (PPP) loan was eligible for forgiveness because the bulk of the funds were used to pay independent contractors rather than employees, an Illinois federal judge on Jan. 24 granted the bank’s motion to dismiss without prejudice, finding that the loan contract placed the burden of compliance with the PPP on the borrower....