Wis. Supreme Court deadlocks on corporate law case
Corporate Governance
The Wisconsin Supreme Court deadlocked Tuesday on whether the former owners of a manufacturing business must pay millions in damages for enriching themselves while the company couldn't pay its bills.
The court divided 3-3 on whether to uphold a jury's decision ordering Daniel Virnich and Jack Moores to pay $6.5 million for their excessive compensation at a Lancaster company that makes stereo speaker parts.
The court divided 3-3 on whether to uphold a jury's decision ordering Daniel Virnich and Jack Moores to pay $6.5 million for their excessive compensation at a Lancaster company that makes stereo speaker parts.
Justice Patience Roggensack didn't participate in the case, which had been closely followed by corporate executives, banks and labor unions. The court's ruling sends the case back to an appeals court for a decision but avoids the central issue of what financial obligations the owners of struggling companies have to their creditors.
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How do you qualify for workers compensation in Illinois?
The Workers’ Compensation Statute protects every employee in the State of Illinois.
A victim of a work-related injury or illness is eligible for many forms of compensation including reasonable medical care required to cure or relieve the impact of the injury, lost time from work, and any temporary or permanent disability.
Illinois Workers’ compensation is a system of benefits that:
– Pays for the medical treatment and medical bills incurred by work-related injuries and illnesses.
– Pays for the lost time from work
– Pays for any temporary or permanent disabilities
– Covers nearly every employee in Illinois
– and begins the very first day that you start working for your employer.
Employers in Illinois are required to purchase workers’ compensation insurance for their employees and the insurance companies fund the payment of worker’s compensation benefits for employees’ claims. In the event of a dispute, the Illinois Workers’ Compensation Commission (IWCC, or the Commission) enforces the state’s worker’s compensation laws and protects worker rights.