Corporate law — successor nonliability, exceptions

Posted March 30, 2017 12:50 PM

Where a plaintiff alleges that a successor corporation should be held liable due to the “mere extension” exception to the doctrine of successor corporate nonliability, it is insufficient to show continuation of business operations. The plaintiff must also show continuity of corporate identity or identity of officers, directors or stock.The 1st District Appellate Court affirmed the decision of Cook County Circuit Judge Patrick J. Sherlock.In 2005, Michael Pilolla made a $100,000 loan to Lid Electrical Inc. Lid …

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