Andersen Law LLC v. 3 Build Construction, LLC, 2019 IL App (1st) 181575-U, the subject of my most recent post, here , examines the nature and reach of Illinois’s Fraudulent Transfer Act, 740 ILCS 160/1 et seq. [“IFTA”] and the ‘continuation’ exception to the successor liability rule. The Plaintiffs’ IFTA claims were based on allegations that …
Tag Archives: successor liability
Florida Series III: Parent Company’s Merger Doesn’t Impact Subsidiary’s Noncompete with M.D.
Collier HMA v. Menichello a medical noncompete dispute, considers whether a third party can enforce a noncompete after a merger. Jettisoning the “changed corporate culture and mode of operation” test, the Florida appeals court applied basic principles of corporate law to determine whether a parent company’s merger necessarily meant its subsidiary merged too and couldn’t enforce …
7th Circuit Provides Primer on Fraudulent Transfer and Alter Ego Doctrine In Contract Dispute
The Seventh Circuit affirmed an almost $3M judgment against the defendants under fraudulent transfer, successor liability and alter ego rules in Center Point v. Halim, 2014 WL 697501. The plaintiff energy company entered into a written contract to supply natural gas to defendants’ 41 Chicago area rental properties. The individual defendants – a husband and wife – managed …