Case Studies in Closely Held Company Disputes
Illinois Appellate Court finds Building Contractor is Without Legal Capacity to Bring Counterclaims 3 1/2 years after Dissolution
In Sienna Court Condominium Assoc. v. Champion Aluminum Corp., 2017 IL App. (1st) 143364, the Illinois First District Appellate Court determined that the “reasonable” time limitation applied to the right to participate in litigation and that 3 ½ years after dissolution was too long to wait before an LLC filed counterclaims.…