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GELATT v. DEDAKIS

No. 75-32.

77 Wis.2d 578 (1977)

254 N.W.2d 171

IN RE ASSIGNMENT FOR BENEFIT OF CREDITORS OF MADER'S STORE FOR MEN, INC.: GELATT, Appellant, v. DEDAKIS, Respondent.

Supreme Court of Wisconsin.

Decided May 17, 1977.

Attorney(s) appearing for the Case

For the appellant there was a brief by L. E. Sheehan and Moen, Sheehan & Meyer, Ltd., and oral argument by Paul W. Henke, Jr., all of La Crosse.

For the respondent there was a brief and oral argument by N. George DeDakis of La Crosse.

ABRAHAMSON, J.

Two questions are presented on this appeal: First, whether the provisions of ch. 128, Stats., relating to the appointment of a receiver for an insolvent corporation have been suspended by the national Bankruptcy Act, Title 11, U.S.C.A. Second, whether in this ch. 128 proceeding, the claim of James S. Gelatt, an officer-shareholder, for advances made to his corporation was properly subordinated to the claims of other general creditors on the theory that...

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