CAREY v. RATHMAN

No. 203.

55 Wis.2d 732 (1972)

200 N.W.2d 591

CAREY, Respondent, v. RATHMAN and another, Coexecutors of the Estate of Louis Rathman, Deceased, Appellants.

Supreme Court of Wisconsin.

Decided October 3, 1972.


Attorney(s) appearing for the Case

For the appellants there were briefs by Brady, Tyrrell, Cotter & Cutler, attorneys, and Elwin J. Zarwell, Samuel J. Recht and Michael J. Spector of counsel, all of Milwaukee, and oral argument by Mr. Spector.

For the respondent there was a brief by Quarles, Herriott, Clemons, Teschner & Noelke, attorneys, and L. C. Hammond, Jr., and Harold P. Southerland of counsel, all of Milwaukee, and oral argument by Mr. Hammond.


HALLOWS, C. J.

When the agreement was entered into on March 12, 1963, Jean A. Carey was secretary and treasurer of the insurance company and Louis Rathman was the chief executive officer and substantial shareholder. In 1965 Rathman requested all the shareholders to exchange each share of their stock in the insurance company for 3.2 shares of the holding company, which they did.2 At that time Carey owned 100 shares and five other shareholders...

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