Applying Delaware corporate law, an Illinois appeals court in A.G. Cullen Construction, Inc. v. Burnham Partners, LLC, 2015 IL App (1st) 122538, reversed the dismissal of a contractor’s claim against a LLC and its sole member to enforce an out-of-state arbitration award. In finding for the plaintiff contractor, the court considered some important and recurring questions concerning the level …
Category Archives: Corporate
Property Is Subject to Turnover Order Where Buyer Is ‘Continuation’ of Twice-Removed Seller – Successor Liability in IL
The Second District appeals court recently affirmed a trial court’s turnover order based on a finding that a property transfer involving three separate parties was in reality, a single “pre-arranged transfer” involving a “straw purchaser.” I previously profiled Advocate Financial Group, LLC v. 5434 North Winthrop, 2015 IL App (2d) 150144 (see http://paulporvaznik.com/5485/5485) where the court …
Five-Year Limitations Period to Sue Dissolved Corporation Applies to Piercing Corporate Veil Suit – IL Court
Peetom v. Swanson, 334 Ill.App.3d 523 (2nd. Dist. 2002) provides a dated yet instructive recitation of the statute of limitations standards that govern corporate veil piercing actions in Illinois. The case’s relevant chronology includes: (1) Plaintiff filed a negligence action in 1995 against a corporate defendant for injuries plaintiff suffered in 1993, (2) In May 1997 – the corporate defendant …