Lewis Collens | Illinois Institute of Technology (original) (raw)

Professor of Law and Dean, IIT Chicago-Kent College of LawPresident Emeritus, Illinois Institute of Technology

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Chicago-Kent} Law Review, Dec 31, 1982

Chicago-Kent} Law Review, 1980

LEWIS COLLENS* RECENT CASES HE PAST year has not been a particularly active one for the legislatu... more LEWIS COLLENS* RECENT CASES HE PAST year has not been a particularly active one for the legislature or the courts in the area of corporation law.' There were five cases and one amendment to the Business Corporation Act that merit attention. In Stroh v. Blackhawk Holding Corp.,' the Illinois Supreme Court held that it is proper for a corporation to issue voting shares which have no right to receive current or liquidating dividends. The Blackhawk Holding Corporation had 3,000,000 shares of authorized Class A stock and 500,000 shares of authorized Class B stock. The Class B stock had no right to participate in ordinary or liquidating dividends. Upon formation, the company sold 500,000 Class A shares, representing 46% of the voting power, to the public for $2,000,000

Chicago Kent Law Review, 1982

Chicago Kent Law Review, 1980

Chicago-Kent} Law Review, Dec 31, 1982

Chicago-Kent} Law Review, 1980

LEWIS COLLENS* RECENT CASES HE PAST year has not been a particularly active one for the legislatu... more LEWIS COLLENS* RECENT CASES HE PAST year has not been a particularly active one for the legislature or the courts in the area of corporation law.' There were five cases and one amendment to the Business Corporation Act that merit attention. In Stroh v. Blackhawk Holding Corp.,' the Illinois Supreme Court held that it is proper for a corporation to issue voting shares which have no right to receive current or liquidating dividends. The Blackhawk Holding Corporation had 3,000,000 shares of authorized Class A stock and 500,000 shares of authorized Class B stock. The Class B stock had no right to participate in ordinary or liquidating dividends. Upon formation, the company sold 500,000 Class A shares, representing 46% of the voting power, to the public for $2,000,000

Chicago Kent Law Review, 1982

Chicago Kent Law Review, 1980

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