Paul Porvaznik – Business Litigator
Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)
Adas v. Rutkowski, 2013 WL 6865417 (N.D.Ill. 2013), illustrates the confluence of Federal bankruptcy law and state law fiduciary duty and express trust principles in a case involving a failed construction partnership. The plaintiff and bankrupt debtor (defendant) formed a partnership to buy real estate, build a house on it and split the profits once the house was sold. …
Continue reading “Express Trusts and Bankruptcy Discharge: some Quick Hits”
In Thorne v. Riggs, 2013 IL App (3d) 120244-U (September 3, 2013), the trial court rescinded a real estate contract and the Third District affirmed. In doing so, the Court examined Illinois fraud in the inducement and fraudulent concealment law and discussed the “special relationship” fiduciary duty rule. Facts: Plaintiffs sued two LLC members alleging they …
Continue reading “Fraud In the Inducement and Fraudulent Concealment – Illinois Primer”