Despite its vintage (over two decades), Kennedy v. Four Boys Labor Service, 664 N.E.2d 1088 (2nd Dist. 1996), is still relevant and instructional for its detailed discussion of Illinois’ fraudulent transfer statute and what post-judgment claims do and don’t fall within a supplementary proceeding to collect a judgment in Illinois. The plaintiff won a $70K …
Tag Archives: alter ego
Judgment Creditor Can Recover Attorneys’ Fees Spent Pursuing Successful Veil Piercing Suit Versus Corporate Officers
Q: Can a judgment creditor recover attorneys’ fees incurred in both its post-judgment discovery efforts after a default judgment against a defunct corporation and a subsequent piercing the corporate veil action to enforce the prior judgment where the contract with the defunct entity contains an attorneys’ fees provision? A: Yes. That’s the salient and nuanced holding from Steiner Electric …
7th Circuit Provides Primer on Fraudulent Transfer and Alter Ego Doctrine In Contract Dispute
The Seventh Circuit affirmed an almost $3M judgment against the defendants under fraudulent transfer, successor liability and alter ego rules in Center Point v. Halim, 2014 WL 697501. The plaintiff energy company entered into a written contract to supply natural gas to defendants’ 41 Chicago area rental properties. The individual defendants – a husband and wife – managed …