Appellate Court of Illinois· 9/23/1991

Kaleta v. Whittaker Corp.

Citations

583 N.E.2d 567
221 Ill. App. 3d 705
164 Ill. Dec. 651
1991 Ill. App. LEXIS 1626

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

noting that “the general rule is that a corporation that merges with another corporation takes on the latter corporation’s obligations and liabilities”
noting that “the general rule is that a corporation that merges with another corporation takes on the latter corporation’s obligations and liabilities”
finding no continuity of ownership where seller received a \de minimis\ .00037% stake in buyer
finding no continuity of ownership where seller received a “de minimis” .00037% stake in buyer
“Our review of the record has found no evidence of a continuing relationship between Tug and American [Ajirlines with respect to servicing of the 660 line of beltloaders.”
“[W]ithout continuity of shareholders, it does not appear just to require the successor corporation to assume the liabilities of the predecessor when it has already paid a substantial price for the assets of the predecessor.” (quotation and citation omitted)

Source: CourtListener parenthetical corpus (CC0).

Judges: Manning

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Cited by

16 cases in this archive cite this case.

Cites

14 cases in this archive are cited by this case.

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