In re Sager Corp.

The trial court appointed a receiver for Sager Corporation for the purpose of accepting service of process and marshaling assets consisting of unexhausted liability-insurance policies for asbestos-related claims filed against Sager. Sager was an Illinois corporation that filed for dissolution in 1998 and, pursuant to Illinois law, was no longer amenable to suit after 2003. The appellate court affirmed. The Supreme Court reversed the judgment of the appellate court, holding that, in conformity with the constitutional requirements of due process and the Full Faith and Credit Clause, claims filed against the dissolved Illinois corporation more than five years after dissolution were barred, and therefore, the appointment of the receiver was barred. View "In re Sager Corp." on Justia Law