Dearborn Maple Venture v. SCI Illinois Services

(Modified upon denial of rehearing 5/29/12.) Dispute over earnest money contract in redevelopment of property.for construction of new funeral home and high-rise condominum. Court entered judgment, after bench trial, for funeral home company and against developers for $1.757 million. Collateral estoppel inapplicable, as developers failed to show with "clarity and certainty" that arbitration award had already determined issue in suit of whether Plaintiff was entitled to additional payment under earnest money contract. Parties had three separate agreements, each with its own purpose, although executed in connection with same business deal, and arbitration award did not preclude suit. Continuity exception applies to circumvent general rule of successor corporation's nonliability, as two corporations had sufficient common identity of ownership and management. (CONNORS and HARRIS, concurring.)