In Henderson Square Condominium Association v. LAB Townhomes, LLC, 2014 IL App (1st) 130764, a condominium association sued the developer and contractor after unit owners discovered wide-ranging property defects in their units. (For Chicago readers: the project is near that nightmarish, multi-cornered Belmont-Lincoln-Ashland intersection on the North side). The property’s construction was completed in 1996, the unit …
Tag Archives: breach of fiduciary duty
IL First Dist. Examines Punitive Damage Standards In RE Fraud Suit
In K2 Development, LLC v. Braunstein, 2013 IL App (1st) 103672-U, the First District addressed Illinois law’s compensatory and punitive damages guideposts in a convoluted real estate fraud suit filed by an LLC against one of its two members. The plaintiff LLC – through one of its members (a real estate novice) – sued the LLC’s other member – an …
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