I’ve seen no hard data to support this but it seems that piercing the corporate veil – as a concept – has seeped into the cultural lexicon and consciousness. I say this because many people – lawyers and nonlawyers alike – appear to have at least a nodding acquaintance with piercing. Over and over I hear some …
Category Archives: Corporate
Creditor Rights In and To a Debtor’s Joint Bank Account – Part II
In re Kuhl, 2012 WL 5935101 (S.D.Ill. 2012) provides a recent synopsis of the rules governing creditor attempts to attach a debtor’s joint bank account. In it, the Chapter 7 bankruptcy trustee sought turnover of the bankrupt debtor’s funds held in three separate joint accounts with her husband. The debtor challenged the trustee’s turnover motion, claiming …
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Corporate Registered Agent’s Inaction Not Binding On Corporation: Court Vacates One-Year Old Default Judgment
West Bend Mut. Ins. Co. v. 3RC Mechanical and Contracting, Inc., 2014 IL App (1st) 123213, presents a recent and detailed illustration of the prevailing Section 2-1401 (735 ILCS 5/2-1401) standards to vacate judgments that are between 30 days and two years old. The plaintiff (as subrogee of its insured) filed suit against a mechanical contractor – an …