1. Home
  2. Browse Decisions
  3. Ill.2d
  4. 31 Ill.2d
  5. 31 Ill.2d 297 (1964)
 

REILLY v. SEGERT

Nos. 38367, 38372, Cons.

31 Ill.2d 297 (1964)

201 N.E.2d 444

GEORGE L. REILLY, Receiver of Deerfield Lumber & Fuel Co., Inc., et al., Appellants, v. EDWARD F. SEGERT et al., Appellees.

Supreme Court of Illinois.

Opinion filed September 29, 1964.

Attorney(s) appearing for the Case

THEODORE D. KAHN, of Chicago, (MAX CHILL and GEORGE D. KARCAZES, of counsel,) for appellants.

ALTHEIMER, GRAY, NAIBURG, STRASBURGER & LAWTON, of Chicago, and RUNYARD, BEHANNA, CONZELMAN & SCHULTZ, of Waukegan, (JOHN E. SCHULTZ and HOWARD L. KASTEL, of counsel,) for appellees.

Reversed and remanded.

Mr. JUSTICE SCHAEFER delivered the opinion of the court:

Prior to the enactment of the Business Corporation Act of 1933, it was settled that a shareholder of a corporation who sold his stock to the corporation while it was insolvent was liable to an injured creditor of the corporation for the amount paid to the shareholder for his stock. (Singer v. Hutchinson, 183 Ill. 606;

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases