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A.O. SMITH CORP. v. WISCONSIN INS. SECURITY FUND

No. 97-1517.

217 Wis.2d 252 (1998)

580 N.W.2d 348

IN the MATTER OF the ANCILLARY LIQUIDATION OF INTEGRITY INSURANCE COMPANY, a corporation organized and existing under the laws of the State of New Jersey and licensed to do business in the State of Wisconsin Before the Wisconsin Insurance Security Fund: Appeal of Denial of Claim of A.O. Smith Corp. A.O. SMITH CORPORATION, Petitioner-Appellant, v. WISCONSIN INSURANCE SECURITY FUND, Respondent-Respondent.

Court of Appeals of Wisconsin.

Decided February 26, 1998.

Attorney(s) appearing for the Case

On behalf of the petitioner-appellant, the cause was submitted on the briefs of Thomas Armstrong and Colleen A. Scherkenbach of Quarles & Brady of Milwaukee.

On behalf of the respondent-respondent, the cause was submitted on the brief of Jeffrey J. Kassel, Jonathan C. Aked, and Christopher J. Wilcox of La Follette & Sinykin of Madison.

Before Eich, C.J., Roggensack and Deininger, JJ.

DEININGER, J.

A.O. Smith Corporation appeals two circuit court orders affirming the denial of four claims it filed with the Wisconsin Insurance Security Fund (WISF). A.O. Smith argues that the circuit court erred in concluding that the "net worth statute," § 646.31(12), STATS., bars the claims. Specifically, A.O. Smith contends that on the effective date of the net worth statute, it had vested statutory and contractual rights to collect from the WISF, and the...

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