Michigan Indiana Condominium Ass'n v. Michigan Place, LLC

Illinois Appellate Court
Civil Court
Citation
Case Number: 
2014 IL App (1st) 123764
Decision Date: 
April 24, 2014
District: 
1st Dist.
Division/County: 
Cook Co., 4th Div.
Justice: 
EPSTEIN
Holding: 
Affirmed.
Plain language of Section 12.80 of Business Corporation Act prohibits court from extending "grace period" for suits against dissolved corporation beyond definite period of five years after corporation has dissolved, as contained in statute. This definitive five-year limit applies even if a party cannot learn of its cause of action within that period.(HOWSE and FITZGERALD SMITH, concurring.)