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M & I FIRST NAT. BANK v. EPISCOPAL HOMES

No. 94-1294.

195 Wis.2d 485 (1995)

536 N.W.2d 175

M & I FIRST NATIONAL BANK, West Bend, Wisconsin, as Trustee, Plaintiff-Appellant, v. EPISCOPAL HOMES Management, Inc., Mary D. Palmer, Robert T. Allen, Earl M. Boulton, Charlotte S. Boulton, Elizabeth A. Brown, Howard G. Brown, Josephine Dietrich, Florence Dietrich, Mary Alice Hammond, Willis R. Hammond, Gordon B. Hoffman, Jessie Hoffman, Eleanor G. Jorgenson, Esther M. Klemp, Ernest Lipman, Samuel Loomis, Mildred G. Macek, Barbara F. Muckler, Dorothy W. Osborne, Irving W. Roane, Ethel V. Roane, Robert Rosenwald, Laura Rosenwald, Marion G. Sanford, Richard C. Thompson, June H. Thompson, Marion Thornbery, Elizabeth Walker, Richard V. Wilkinson, Nancy V. Wilkinson, Helen M. Wilson, James E. Griffiss and Elizabeth H. Miller, Defendants-Respondents, ELDERLY HOUSING AUTHORITY, Defendant.

Court of Appeals of Wisconsin.

Decided June 21, 1995.

Attorney(s) appearing for the Case

On behalf of the plaintiff-appellant, the cause was submitted on the briefs of James O. Huber, Brian W. McGrath, and Bryan B. House of Foley & Lardner of Milwaukee.

On behalf of the defendant-respondent, Episcopal Homes Management, Inc., the cause was submitted on the brief of James W. Hill, and JoAnne Breese-Jaeck of Hostak, Henzl & Bichler, S.C. of Racine.

On behalf of the defendants-respondents, Richard v. Wilkinson and Nancy V. Wilkinson, the cause was submitted on the brief of Micheal D. Bannon of DeMark, Kolbe & Brodek, S.C. of Racine.

On behalf of individual defendants-respondents, the cause was submitted on the brief of Wesley R. Mueckler of Riegelman & Mueckler, S.C. of Racine.

Before Brown, Nettesheim and Snyder, JJ.

NETTESHEIM, J.

The subject of this action is a fund in excess of $1,000,000, holding entrance fees paid by the residents of Lake Oaks at DeKoven (DeKoven), a housing facility for the elderly located in the City of Racine and owned by Episcopal Homes Management, Inc. (EHM). The appellant, M&I First National Bank, West Bend, Wisconsin (M&I), is the trustee for approximately 1700 bondholders who hold mortgage revenue bonds which were issued to finance the construction...

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