Check with your bankruptcy lawyer but no the settlement would be an asset of the bankruptcy estate of which the bankruptcy trustee would control.
Exemptionsin Illinois are determined by 735 ILCS 4/12-1001. Is this a Chapter 7 or a Chapter 13, if it is a Chapter 13 the right to the proceeds might be vested in the plan. Personal injuries are exempt up to $15,000 however, I do not know what the basis for the employment discrimination suit is -- likely it is not exempt and is property of the bankruptcy estate.
Please consult your bankruptcy lawyer.