{"id":4019,"date":"2014-08-04T10:00:41","date_gmt":"2014-08-04T15:00:41","guid":{"rendered":"http:\/\/injury.robertkreisman.com\/?p=4019"},"modified":"2014-08-01T12:23:11","modified_gmt":"2014-08-01T17:23:11","slug":"illinois-law-allows-dissolved-corporation-sued-claim-existed-dissolution-five-years","status":"publish","type":"post","link":"https:\/\/www.robertkreisman.com\/injury-lawyer\/illinois-law-allows-dissolved-corporation-sued-claim-existed-dissolution-five-years\/","title":{"rendered":"Illinois Law Allows a Dissolved Corporation to be Sued for Any Claim that Existed Before its Dissolution For Up To Five Years"},"content":{"rendered":"

According to the Illinois Appellate Court<\/a>, a corporate condominium association that was dissolved is in a legal standing the same as that of a dead natural person such as found in the case of Markus v. Chicago Title & Trust, 373 Ill.557 (1940).<\/p>\n

Under Illinois \u00a712.80 of the Business Corporation Act of 1983<\/a>, a five-year window is open for suing a corporation on any claim that existed or liability that was incurred before the dissolution of the company.<\/p>\n

In this particular case, the issue was whether (a) two subcontractors who are dissolved and allegedly botched work on a condominium project and (b) the general contractor who wasn\u2019t sued by the condominium association until more than five years after the subcontractors closed shop. Does \u00a712.80 block the general contractor from filing an indemnification, contribution claim against the defunct contractors, or do \u201cequitable considerations\u201d extend the deadline?<\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

According to the Illinois Appellate Court, a corporate condominium association that was dissolved is in a legal standing the same as that of a dead natural person such as found in the case of Markus v. Chicago Title & Trust, 373 Ill.557 (1940). Under Illinois \u00a712.80 of the Business Corporation Act of 1983, a five-year […]<\/p>\n","protected":false},"author":795,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[91,41,46,77,83],"tags":[],"class_list":["post-4019","post","type-post","status-publish","format-standard","hentry","category-appellate-procedure","category-breach-of-contract","category-civil-procedure","category-construction-contracts","category-corporate-law"],"yoast_head":"\nIllinois Law Allows a Dissolved Corporation to be Sued for Any Claim that Existed Before its Dissolution For Up To Five Years — Chicago Injury Lawyer 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