Legal Question in Landlord & Tenant Law in Illinois
corp not in good standing
the llc that owns a piece of property has been invol dissolved and the llc that is their manag co is not in good standing. (both the same people) Can these two llc's file a law suit.
1 Answer from Attorneys
Re: corp not in good standing
Possibly. Under the Business Corporation Act, a dissolved corporation has the right to bring a lawsuit after dissolution. See 805 ILCS 5/12.30. However, the corporation only has 5 years after which it is dissolved to bring it (see 805 ILCS 5/12.80). Certain actions may not be permitted however, so the specific facts need to be known in order to assess the claim's viability. If you are a shareholder or officer of either of the LLCs, I suggest you talk to a lawyer about whether the LLCs can bring the particular suit you have in mind.
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