(805 ILCS 120/7) (from Ch. 32, par. 188g)
Sec. 7.
All rights of creditors and all liens upon the property of either
of such merging or consolidating companies shall be preserved unimpaired,
and all debts, liabilities and duties of the respective corporations shall
henceforth attach to such single or merged corporation and may be enforced
against it to the same extent as if such debts, liabilities and duties had
been incurred or contracted by it. Any action or proceeding pending by or
against one of the corporations merged or consolidated may be prosecuted to
judgment as if such merger or consolidation had not taken place, or the
merged or consolidated corporation may be substituted in its place.
(Source: Laws 1933, p. 392.)
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