7th Circuit: Illinois Law Bars State's Recovery Of Debtor's Tax Payments

7th Circuit: Illinois Law Bars State's Recovery Of Debtor's Tax Payments

CHICAGO - A panel of the Seventh Circuit U.S. Court of Appeals on June 28 ruled that tax credits sought by the State of Illinois from a now-bankrupt company were not available based on amendments to the state's public utilities law (State of Illinois v. Chiplease Inc. $(In Re: Resource Technology Corp.$), No. 11-1633, Chapter 7, 7th Cir.; 2013 U.S. App. LEXIS 13271).

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