Did you ever wonder what happens when two unmarried people split up and then argue over who should get what? A recent Wisconsin Court of Appeals case, Leonard v. Lynn, 2009AP2026, for which the Wisconsin Supreme Court denied certiorari on January 11, 2011, gives us the answer, which may surprise many.
Continue Reading...Wisconsin tort law has been substantially modified through the passage of 2011 Wisconsin Act 2, which became effective on February 1, 2011. The changes made by this Act benefit businesses in several respects, particularly in the area of product liability.
Sellers and distributors of products are now exposed to liability for product defects only if they assumed responsibility for some portion of the product or its labeling, or if the manufacturer of the product is judgment proof. A plaintiff is required to show some reasonable alternative design was available to a manufacturer in order to make a recovery. The Act imposes a 15 year statute of repose, i.e. claims may not be brought with respect to products manufactured more than 15 years before the claim is made.
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Wisconsin’s Supreme Court 3-3 split in Polsky v. Virnich keeps Wisconsin’s unique view on fiduciary duties owed creditors by closely held corporations in place. In summary, officers and directors do not owe a fiduciary duty to creditors unless the company is BOTH: (a) insolvent; and (b) not a "going concern." Most jurisdictions do not have the second prong of this test (i.e. the corporation only needs to be insolvent for the duty to arise).
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