The Illinois corporate “survival” statute, 805 ILCS 5/12.80, allows a plaintiff to sue a dissolved corporation for up to five years after the corporation’s existence ends. So, if a corporation was dissolved on April 29, 2014, a plaintiff who had a claim against the corporation prior to April 29, 2014, has through April 29, 2019 …
Category Archives: Remedies
Non-Shareholder of ‘Belly Up’ Bakery Can Be Personally Liable on Piercing Claim – IL Court Rules
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 …
Fee Shifting – Is ‘Prevailing Party’ Language Required?
I see this often: plaintiff sues a defendant for breach of contract. The defendant has more financial resources than the plaintiff and the contract doesn’t have an attorneys’ fees provision. Meaning, each side is responsible for its own fees. After several months, the plaintiff gets financially (and mentally) worn down by the richer defendant – who by now …
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