Survival statute and subcontractors

Commercial Litigation

By Paul B. Porvaznik

Paul B. Porvaznik is a business litigation attorney at Molzahn, Rocco, Reed & Rouse LLC and practices primarily in the areas of commercial litigation, landlord-tenant law, mechanic’s liens and post-judgment enforcement.

Posted July 29, 2014 2:56 PM

The Illinois corporate survival statute allows a plaintiff to sue a dissolved corporation for up to five years after the corporation’s existence ends. So, if a corporation was dissolved on April 29, 2014, a plaintiff who had a claim against the corporation prior to then has through April 29, 2019 to file suit against that dissolved corporation. Any recovery would attach to corporate (as opposed to individual shareholder) assets. And because the survival act, 805 ILCS 5/12.80, is a legislative creation, its …

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