Matthew O'Hara Quoted in Chicago Daily Law Bulletin Article on Dissolved Company Lawsuits
Chicago — Matthew J. O'Hara, a Hinshaw & Culbertson LLP partner was quoted in a December 3, 2012 Chicago Daily Law Bulletin article titled "Dissolved Company Escapes Lawsuit."
The article discusses a recent Illinois Supreme Court ruling that reduces the chances of dissolved companies facing certain types of lawsuits after they dissolve. The court ruled that claims which did not accrue before a company's dissolution may not be asserted after a company's dissolution and this article discusses the case and the observations of other attorneys in the field.
Mr. O'Hara specifically discusses how the decision moves Illinois case law back in line with established precedent. He also discusses how the impact of the decision on corporations planning to dissolve and parties who enter into long-term contracts with corporations.