Pyramid Development, LLC v. DuKane Precast, 2014 IL App (2d) 131131, vividly illustrates the importance of diligent record-keeping practices on construction projects and the dire financial consequences that can flow from a failure to do so. It emphasizes how crucial it is for a contractor to comply with Section 5 of the mechanic’s lien act – …
Tag Archives: Illinois
Illinois Joint Ventures – Features and Effects
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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All About Charging Orders – When the Judgment Debtor Is an LLC Member
Getting a judgment against an LLC member can trigger a high-anxiety response. That’s because the normal post-judgment collection rules set out in Code Section 2-1402 and Supreme Court Rule 277 don’t cleanly apply. Section 30-20 of the LLC Act (805 ILCS 180/30-20) states that a creditor’s exclusive remedy is to obtain a “charging order” against the LLC member’s …
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