Category Archives: Capacity to Sue and Be Sued

Can an LLC Sue or Be Sued Based on Events That Occurred When It Was Dissolved?

According to at least one Illinois Appellate Court, an LLC can sue or be sued based on events that occurred when it was dissolved if the LLC is later reinstated. In Revolution Madison, LLC v. Eccles, 2015 IL App (2d) … Continue reading

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Dissolved Corporations and the Survival Statute: Basics That Closely-Held Corporations Should Know

Section 12.80 of the Business Corporation Act of 1983, 805 ILCS 5/12.80, is often called the “Survival Statute.”  The Survival Statute not only sets a five-year limit for filing claims against or on behalf of a dissolved corporation, but also … Continue reading

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