WILLIAMS v. MAGNAFICI

No. 79-37.

77 Ill. App.3d 1035 (1979)

397 N.E.2d 197

KENNETH WILLIAMS et al., Plaintiffs-Appellees, v. WILLIAM E. MAGNAFICI et al., Defendants-Appellants.

Appellate Court of Illinois — Third District.

Opinion filed November 14, 1979.


Attorney(s) appearing for the Case

Craig M. Armstrong, of Armstrong & Carter, of Ottawa, for appellants.

Robert H. Shultz, Jr., and Lyle W. Allen, both of Heyl, Royster, Voelker & Allen, of Peoria, for appellees.


Judgment reversed.

Mr. PRESIDING JUSTICE STOUDER delivered the opinion of the court:

This appeal arises from an action brought by Kenneth Williams and Cephas Williams, Inc., a corporation, to set aside an assignment of corporate assets for benefit of creditors, on grounds that the assignment was not made in accordance with sections 72 or 76 of the Business Corporation Act (Ill. Rev. Stat. 1973, ch. 32, pars. 157.72, 157.76). A bench trial resulted in an order...

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