City of Chicago v. Jewellery Tower LLC

Illinois Appellate Court
Civil Court
Receivers
Citation
Case Number: 
2021 IL App (1st) 201352
Decision Date: 
Tuesday, August 17, 2021
District: 
1st Dist.
Division/County: 
Cook Co., 6th Div.
Holding: 
Reversed and remanded with directions.
Justice: 
CONNORS

City filed complaint against owners of Pittsfield Building for building code violations as to the interior and exterior of the building. Court abused its discretion when it denied Defendant LLC’s motion to remove the court-appointed receiver. The receiver could not be impartial or carry out his fiduciary duties due to receiver’s conflict of interest, because of his other business relationship with another party in the case from which the receiver could have earned a substantial profit of $4.5 million and which was not initially disclosed to circuit court.(HARRIS and ODEN JOHNSON, concurring).