Tag Archives: Riley Acquisitions Inc v Drexler

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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