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BELOIT LIQUIDATING TRUST v. GRADE

No. 02-2035.

266 Wis.2d 388 (2003)

2003 WI App 176

669 N.W.2d 232

BELOIT LIQUIDATING TRUST, a Delaware Trust, Plaintiff-Appellant, v. Jeffrey T. GRADE, Francis M. Corby, Jr., Mark E. Readinger, James A. Chokey, Robert A. Messier, Alton L. Daffin, and Thomas E. Engelsman, Defendants-Respondents.

Court of Appeals of Wisconsin.

Decided July 1, 2003.

Attorney(s) appearing for the Case

On behalf of the plaintiff-appellant, the cause was submitted on the briefs of John F. Hovel, Leonard G. Leverson, and Joseph S. Goode of Kravit, Gass, Hovel & Leitner, S.C., Milwaukee, and Curtis C. Mechling of Stroock & Stroock & Lavan LLP, New York, New York. There was oral argument by Curtis C. Mechling.

On behalf of the defendants-respondents, James A Chokey, Mark E. Readinger, Robert A. Messier, and Alton L. Daffin, the cause was submitted on the briefs of Paul F. Linn, Christopher C. Mohrman and Charles J. Crueger of Michael Best & Friedrich LLP, Milwaukee. There was oral argument by Paul F. Linn.

Before Wedemeyer, P.J., Fine and Schudson, JJ.

¶ 1. FINE, J.

Beloit Liquidating Trust is the transferee of the assets of Beloit Corporation, following the latter's liquidation under Chapter 11 of the United States Bankruptcy Code, 11 U.S.C. §§ 1101-1174. The Trust appeals from an order dismissing its supplemental complaint against seven persons whom the supplemental complaint alleges were, during the time material to this appeal, officers or directors of Beloit Corporation or Harnischfeger Industries...

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