Paul Porvaznik – Business Litigator
Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)
Primo v. Pierini, 2012 IL App (1st) 103553-U discusses the key elements of a joint venture and how it differs from other common business arrangements. The plaintiff contractor sued a construction manager to recover about $300k in building improvements it made in building a Chicago restaurant. The construction manager was hired by the restaurant owner and was actively involved in …
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Corporate successor liability’s focal point is whether a purchasing corporation (Company 2) is responsible for the purchased corporation’s (Company 1) pre-sale contract obligations. It’s an important question because the Company 1 will usually have no assets after the purchase. Creditors of Company 1 will then try to pin liability on Company 2. The general rule in Illinois …
Continue reading “Corporate Successor Liability in Illinois: the Rule and Exceptions”