Debt to Owner Excluded If Selling Business
Bank One Milwaukee appealed the judgment of the Circuit Court for Milwaukee County to award damages and costs to Williams Bay Trading Co. on breach of contract and bad-faith claims.
Bank One Milwaukee v. Williams Bay Trading Co.
Bank One Milwaukee appealed the judgment of the Circuit Court for Milwaukee County to award damages and costs to Williams Bay Trading Co. on breach of contract and bad-faith claims.
Owner's Debt Not Included in Net Asset Value
Plaintiff, Bank One Milwaukee, appealed the judgment of the Circuit Court for Milwaukee County to award defendants, the clothing import company of Williams Bay Trading and owner, damages, and costs on breach of contract and bad-faith claims that arose out of an action to seize assets.
Liquidated Business Valued as Going Concern
The Wisconsin Court of Appeals concluded that the shareholder loans should be removed when determining the value of stock in a closely held corporation where one person owns all the stock.