Legal Question in Business Law in Illinois

legal standing to sue in regards to corporation filing

I have been involved in a 14 million dollar lawsuit for the last two years it involved two corporations, both of which my husband and I were President and the largest shareholders. The first was formed in Illinois, the attorney in Illinois was crooked and involved with the BAD GUYS! long story! During depositions I uncovered evidence that I need to sue for a breach of contract a very wealthy group in Illinois, the problem is that the original corporation has been dissolved (the corrupt attorney did this), can I form a new corporation with the same name or do I have to pay the $8,000 plus in back fees to reinstate to sue these people.


Asked on 2/04/05, 9:31 am

1 Answer from Attorneys
Zedrick Braden III Ainsworth & Associates PC

Re: legal standing to sue in regards to corporation filing

Hello. In my opinion you cannot preserve your

right to recover from this corporation which has

been dissolved by attempting to bring it back. Don't even think of doing that. It would be a

really bad move. I suggests that you consider

filing a lawsuit against the individual board

members of the corporation. There is a chance

that they might still be liable to you for breach

of contract, depending upon the circumstances of

the breach; did the board members individually

take action which amounted to a breach of contract, etc. Corporations are formed for a variety of reasons. In many instances the intent

is to shield the business owners from personal

liability, but in instances where the owners or

board members act individually, or outside of

the corporation, those individuals can be held

personally liable for actions which harm another

as in your case. I will be happy to answer any

additional questions that you might have.

Read more
Answered on 2/05/05, 3:39 am


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