Koepke v. First Nat. Bank of De Kalb
Cases that cite this one
19 later published cases cite this decision. The 18 that cite it most often are listed here.
- McGinley Partners, LLC v. Royalty Properties, LLC (Ill. App. Ct. 2018)
- Canadian Ace Brewing Co. v. Joseph Schlitz Brewing Co. (7th Cir. 1980)
- Riley v. Fitzgerald (Cal. Ct. App. 1986)
- John Hunter and Laura Snodsmith v. Old Ben Coal Company (7th Cir. 1988)
- McGinley Partners, LLC v. Royalty Properties, LLC (Ill. App. Ct. 2019)
- Weis v. Wark (District Court, N.D. Illinois 1999)
- Citizens Electric Corporation, as Representative of a Class v. Bituminous Fire & Marine Insurance Company (7th Cir. 1995)
- Citizens Electric Corp. v. Giles Armature & Electric Works, Inc. (District Court, S.D. Illinois 1995)
- Davis v. St. Paul Fire & Marine Insurance (District Court, D. South Dakota 1989)
- Grunloh v. Effingham Equity, Inc. (Ill. App. Ct. 1988)
- Shute v. Chambers (Ill. App. Ct. 1986)
- Carmichael v. Halstead Nursing Center, Ltd. (Kan. 1985)
- Van Pelt v. Greathouse (Neb. 1985)
- Poliquin v. Sapp (Ill. App. Ct. 1979)
- Canadian Ace Brewing Co. v. Anheuser-Busch, Inc. (District Court, N.D. Illinois 1978)
- Adams v. Employers Insurance Company of Wausau (Ill. App. Ct. 2016)
- Adams v. Employers Insurance Company of Wausau (Ill. App. Ct. 2016)
- Adams v. Employers Insurance Company of Wausau (Ill. App. Ct. 2016)
This list shows which later cases cite this one. It does not say how they treated it, and no review of that has been done. Not a substitute for Shepard’s or KeyCite — verify before relying.
Opinion
delivered the opinion of the court:
Plaintiff appeals from an order of the trial court dismissing his complaint.
World Construction Company, Inc. was incorporated in 1964 and dissolved, by court decree, in 1966. In 1970, the plaintiff, the majority shareholder of the defunct corporation, on behalf of all shareholders brought an action in equity based upon breach of contract. Financial injury was the only equity alleged.
The trial judge granted defendant’s motion to dismiss on the basis of Section 157.94 of the Business Corporation Act (Ill. Rev. Stat. 1969, ch. 32, sec. 157.94) which provides:
“The dissolution of a corporation * * * shall not take away or impair any remedy available to or against such corporation, its directors, or shareholders, for any right or claim existing, or any liability incurred, prior to such dissolution if action or other proceeding thereon is commenced within two years after the date of such dissolution 8 8 8"
The plaintiff concedes that the corporation must bring an action within two years of dissolution, but attempts to avoid the statute by alleging that his action is an equitable one brought, not by the corporation, but by the shareholders.
The provisions of the statute are clearly applicable, 1) to the defunct corporation, to its directors and shareholders (see, Gordon v. Loew’s Incorporated (D.C.N.J. 1956), 147 F.Supp. 398), and 2) to “any remedy,” which would include an action brought in equity.
Judgment affirmed.
ABRAHAMSON and GUILD, JJ., concur.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.