Bank of America v. WS Management, Inc. 

Illinois Appellate Court
Civil Court
Fraudulent Transfer Act
Citation
Case Number: 
2015 IL App (1st) 132551
Decision Date: 
Monday, May 18, 2015
District: 
1st Dist.
Division/County: 
Cook Co., 1st Div.
Holding: 
Affirmed in part and vacated in part; remanded in part.
Justice: 
CONNORS
Plaintiff bank attempted to collect $1.5 million judgment entered in Kansas against shopping center management company in foreclosure action. Findings that Defendants did not commingle funds and maintained arm's length relationships, and that two Defendant companies were solvent, were not against manifest weight of evidence. Attorney fees are not recoverable as punitive damages under Fraudulent Transfer Act. Generally, in protracted litigation involving multiple complex issues, an evidentiary hearing should be conducted on request of losing party, especially if prevailing party was represented by multiple attorneys and was entitled to fees and costs as to some but not all claims. Court orders do not indicate basis for decision, and contain no finding of whether fees were reasonable, fee award vacated, and remanded for explanation of basis for fee award and for evidentiary hearing on attorney fees. (DELORT and CUNNINGHAM, concurring.)