Articles Tagged with Illinois insolvency practice

November 12, 2025

Illinois Receivership Act 2026: What Every Illinois Litigator, Creditor, and Business Owner Should Know

by Bellas & Wachowski - Attorneys at Law

Effective Date: January 1, 2026

The Illinois Receivership Act will take effect on January 1, 2026, transforming how courts, creditors, and distressed businesses handle asset protection and management across the state. This new legislation provides expanded legal tools for addressing financially distressed assets, ensuring greater consistency and transparency in receivership proceedings.

Scope of the Act:

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