The Second District affirmed summary judgment for the plaintiff pancake house (“Restaurant”) seller in a breach of contract action against the Restaurant’s buyer and current operator. Siding with the seller, the court discussed the contours of the substantial performance doctrine and what kind of evidence a plaintiff must supply to win summary judgment in a contract dispute. The …
Tag Archives: asset purchase
7th Circuit Affirms Fraudulent Transfer and Alter Ego Judgment Against Corporate Officers
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 …