By Andrew R. Schwartz | Published October 1, 2025 | Posted in Fraudulent transfers | Tagged Tags: creditors, Fraudulent, transfer | Comments Off on Creditors’ Remedies Under the Illinois Uniform Fraudulent Transfer Act
Creditors’ Remedies Under the Illinois Uniform Fraudulent Transfer Act
The Illinois Uniform Fraudulent Transfer Act (IUFTA) is designed to protect creditors from debtors who attempt to evade their financial obligations by improperly shielding assets. Creditors can challenge transfers of assets that are made with the intent to defraud creditors or without receiving reasonably equivalent value in return. The law also gives creditors remedies to Read More
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What to Know About Unjust Enrichment Claims in Commercial Litigation
Unjust enrichment means simply that one party has benefited unfairly at the expense of another. This concept is grounded in equity, focusing on fairness and moral principles rather than legal rights. A claim of unjust enrichment can arise in various commercial contexts, where no formal contract exists between the parties. Under Illinois law, a plaintiff Read More
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What Tools Are Available for Collecting on an Illinois Judgment?
Illinois law provides several methods that creditors can use to collect on a judgment. The collectability of a judgment depends on carefully searching for the debtor’s assets and tracing any transfers of property that preceded the entry of the judgment. The collection process becomes more complex if the judgment debtor files for bankruptcy protection. These Read More
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What to Know About Suing an Out-of-State Defendant in Illinois court
Suing an individual or company from out of state in Illinois presents several advantages. Local lawsuits reduce travel expenses and avoid the procedural complications that arise when dealing with another state’s legal system. Hiring an Illinois attorney is sufficient; there is no need to secure counsel licensed in a different jurisdiction. Access to local attorneys, Read More
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How to Prove a Debtor’s Intent in Fraudulent Transfer Litigation
Fraudulent transfers can pose significant challenges for judgment creditors. These transfers may involve the conveyance of assets with the intent to disturb, delay, hinder, or defraud creditors, thereby complicating efforts to enforce judgments. Dishonest debtors often take great pains to hide assets from creditors by engaging in a “shell game” and will not openly admit Read More
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When Is a Liquidated Damages Clause an Unenforceable Penalty?
Liquidated damages clauses generally provide a predetermined amount of compensation in case of a contract breach, especially when actual damages may be difficult to calculate. However, Illinois courts will not enforce such a clause if it seeks to punish the breaching party rather than to approximate actual damages. A party challenging the enforceability of a Read More
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How Judgment Creditors Can Use Citations to Freeze Assets
Illinois law entitles judgment creditors to initiate supplementary proceedings to discover assets or income of a judgment debtor. Judgment creditors can use this process to seek out non-exempt assets or income by examining both the judgment debtor and other individuals who may hold relevant information. The remedy is particularly useful where the debtor may have Read More
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Remedies for Breaches of Fiduciary Duties
Fiduciary duties are imposed on certain individuals in business organizations to act in the best interest of the organizations and their stakeholders and to prioritize those interests over their own personal ones. Fiduciaries include directors officers, and sometimes employees of a corporation, as well as partners in a partnership and members of a limited liability Read More
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Common Breach of Contract Disputes and Defenses
Contracts are fundamental to business operations, ensuring that all parties involved have a clear understanding of their rights and obligations. However, breaches can occur, leading to disputes that require legal intervention. Understanding the common origins of these disputes can help businesses mitigate risks and foster better contractual relationships. The following are the most frequent reasons Read More
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Using Confession of Judgment in Illinois Debt Collection
A confession-of-judgment clause, often included in promissory notes, guaranties and other contracts, provides advance consent by a debtor to let the creditor take a judgment against them without a trial if the debtor defaults on the obligation. This means the creditor can obtain a court judgment for the amount owed without first notifying the debtor Read More
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