Paul Porvaznik – Business Litigator
Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)
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 …
Continue reading “All About Charging Orders – When the Judgment Debtor Is an LLC Member”
The First District expansively construed Section 10-10 of the Illinois LLC statute (805 ILCS 180/10-10) to immunize LLC managers and members from personal liability for misdeeds carried out on the LLC’s behalf. In Dass v. Yale, 2013 IL App (1st) 122520, the plaintiffs sued an LLC member (along with a general contractor and sales agent) for construction defects in their …
Continue reading “LLC Member Not Liable For Fraud Carried Out On Behalf of LLC”
I’ve seen no hard data to support this but it seems that piercing the corporate veil – as a concept – has seeped into the cultural lexicon and consciousness. I say this because many people – lawyers and nonlawyers alike – appear to have at least a nodding acquaintance with piercing. Over and over I hear some …