Chapter 128, CREDITORS’ ACTIONS
22 sections in this chapter.
Wis. Stat. § 128.001 Definitions
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128.001 Definitions. In this chapter: (1) INSOLVENT. A person is considered “insolvent” whenever any of the following conditions is met: (a) The aggregate of the person’s property, exclusive of any property that the person may have conveyed, transferred, concealed or removed, or …
Wis. Stat. § 128.01 Jurisdiction
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128.01 Jurisdiction. The circuit courts shall have supervision of proceedings under this chapter and may make all necessary orders and judgments therefor; and all assignments for the benefit of creditors shall be subject to this chapter. History: 1977 c. 449. This chapter does no…
Wis. Stat. § 128.02 Assignment; mistakes; amendments
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128.02 Assignment; mistakes; amendments. (1) Voluntary assignments for the benefit of creditors may be made to an assignee who is a resident of this state, who shall, before taking possession of the property assigned and before taking upon himself or herself any trust conferred b…
Wis. Stat. § 128.03 Liens by legal proceedings; assignment
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128.03 Liens by legal proceedings; assignment. When a lien has been obtained by legal proceedings against the property of a debtor the debtor may, within 30 days thereafter, make an assignment of all of the debtor’s nonexempt property for the benefit of all of the debtor’s credit…
Wis. Stat. § 128.05 Assignee’s consent, recording copy of assignment
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128.05 Assignee’s consent, recording copy of assignment. (1) The assignee shall endorse in writing the assignee’s acceptance of the assignment, and shall file the assignment with the clerk of circuit court in the county where the debtor has his or her residence or principal place…
Wis. Stat. § 128.06 Assignee required to comply, when
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128.06 Assignee required to comply, when. (1) The assignee under a voluntary assignment not previously filed under the provisions of this chapter shall upon petition of any creditor without proof of the insolvency of the assignor be required to file the assignment and comply with…
Wis. Stat. § 128.07 Preferred creditors
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128.07 Preferred creditors. (1) DEFINITIONS. In this section: (a) A person shall be considered to have given a preference if, being insolvent, the person has made a transfer of any of his or her property, or has procured or permitted a judgment to be entered against him or her in…
Wis. Stat. § 128.08 Receiver; custodian
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128.08 Receiver; custodian. (1) The court within the proper county may sequestrate the property of a debtor and appoint a receiver therefor: (a) When an execution against a judgment debtor is returned unsatisfied in whole or in part. (b) When a corporation has been dissolved or i…
Wis. Stat. § 128.09 Bond
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128.09 Bond. In order to qualify, the receiver or assignee shall give to and file with the clerk of the court a bond sufficient to cover all property likely to come into the receiver’s or assignee’s hands, conditioned in the usual manner with surety to be approved by the judge ha…
Wis. Stat. § 128.10 Meetings of creditors; removal or death of receiver
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128.10 Meetings of creditors; removal or death of receiver. (1) The court may provide for hearings and meetings of creditors to elect a receiver or to pass upon matters submitted to creditors by a majority vote in number and amount of claims. (2) The court may, upon notice and he…
Wis. Stat. § 128.11 Provisional remedies
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128.11 Provisional remedies. In all actions authorized by this chapter, appropriate provisional remedies may be had and final relief administered to the equal distribution of all assets recovered among the creditors of the debtor, and the court may make such orders for the paymen…
Wis. Stat. § 128.12 Dismissal; intervention
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128.12 Dismissal; intervention. (1) After the designation of a receiver or custodian by the court, proceedings under this chapter shall not be dismissed for want of prosecution or by consent of parties until after notice to creditors, and the court shall, before entertaining an a…
Wis. Stat. § 128.13 Inventory of assets and list of creditors
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128.13 Inventory of assets and list of creditors. With the filing of an assignment or within 10 days after the appointment of a receiver, the debtor shall file with the clerk of circuit court a correct inventory of the debtor’s assets and a list of the debtor’s creditors, stating…
Wis. Stat. § 128.14 Notice; injunction; time of filing claims
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128.14 Notice; injunction; time of filing claims. (1) The court shall require creditors to file their verified claims within 3 months from the date of the filing of an assignment or the appointment of a receiver and may enjoin proceedings by any other creditor against the insolve…
Wis. Stat. § 128.15 Objections to claims; appeal; secured claims
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128.15 Objections to claims; appeal; secured claims. (1) (a) At the expiration of the period of time limited for the filing of claims, the receiver or assignee shall file all of the following with the clerk of circuit court: 1. Proof of publication of the notice required under s.…
Wis. Stat. § 128.16 Discovery
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128.16 Discovery. (1) The court may compel the debtor to discover any property alleged to belong or to have belonged to him or her, the disposition of the property and the consideration and all the circumstances of the disposition. Every officer, agent or stockholder of a corpora…
Wis. Stat. § 128.17 Order of distribution
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128.17 Order of distribution. (1) The order of distribution out of the debtor’s estate shall be as follows: (a) The actual and necessary costs of preserving the estate subsequent to the commencement of the proceedings. (b) Costs of administration including a reasonable attorney’s…
Wis. Stat. § 128.18 Liens
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128.18 Liens. (1) Claims which for want of record or for other reasons would not have been valid liens as against creditors of the debtor armed with process, pursuant to which such property has been attached or levied upon, shall not be liens against the estate. (2) Whenever a cr…
Wis. Stat. § 128.19 Title to property
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128.19 Title to property. (1) The receiver or assignee upon qualifying shall be vested by operation of law with the title of the debtor as of the date of the filing of the petition or assignment hereunder, except so far as it is property which is exempt, including: (a) Property t…
Wis. Stat. § 128.20 Settlement of receiver’s or assignee’s accounts
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128.20 Settlement of receiver’s or assignee’s accounts. (1) (a) Every receiver or assignee shall, within 6 months after the time limited for filing claims or within any further time that the court allows, file with the clerk of circuit court a full and itemized statement, verifie…
Wis. Stat. § 128.21 Voluntary proceedings by wage earners for amortization of debts
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128.21 Voluntary proceedings by wage earners for amortization of debts. (1) Any person whose principal source of income consists of wages or salary may file a verified petition with the circuit court in the county of his or her residence stating that the person is unable to meet …
Wis. Stat. § 128.25 Uniform act governing secured creditor’s dividends in liquidation proceedings
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128.25 Uniform act governing secured creditor’s dividends in liquidation proceedings. (1) DEFINITIONS. As used in this section, unless the context or subject matter requires otherwise: (a) “Creditor’s sale” includes any sale effected by the secured creditor by judicial process or…