Paul Porvaznik – Business Litigator
Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)
Shipley v. Hoke, 2014 IL App (4th) 130810 provides an exhaustive discussion of Illinois’ post-judgment enforcement rules in the context of a judgment creditor trying to reach debtor assets held by third parties. It’s key points concerning a citation’s life span include: – Code Section 2-1402 allows a judgment creditor to prosecute supplementary proceedings for the purposes of examining a …
Continue reading “The Third-Party Citation: How Long Does It Last?”
Brahos v. Chickerneo, 2014 IL App (2d) 130543-U, examines Illinois money damages rules, the extent of a guarantor’s liability and satisfaction-of-judgment requirements against the backdrop of a business dispute involving a failed car dealership. The plaintiff got a multi-million dollar fraud judgment against multiple defendants that stemmed from a failed car dealership business venture. In post-judgment proceedings, the dealership was sold and the …
Continue reading “Release and Satisfaction of Judgment and Guaranty Liability – IL Law”
Heartland Bank v. Goers, 2013 IL App (3d) 12084-U illustrates the procedural and substantive hurdles a creditor’s counsel must clear to enforce a judgment against a guarantor who transfers his personal assets into a trust. The plaintiff bank in sued the defendant for breach of a commercial guarantee after defendant’s company defaulted on a $650,000 loan. The bank obtained …
Continue reading “The Illinois Fraudulent Transfer Act – An Illinois Case Note”