What duties do officers and directors of a closely held business owe the company’s creditors when the company is failing?  Unfortunately, this has become a common question during these troubling economic times.  The answer in Wisconsin appears to be bit different than other states at this point if the failing business is still a “going

A constructive dividend generally refers to a situation where the IRS re-characterizes certain corporate “expenses” as dividends thereby excluding certain corporate deductions and increasing the corporation’s tax (along with possible penalties and interest). Examples of disallowed expenses include: (a) unreasonably large salaries; (b) low interest or no interest shareholder loans; and (c) unreasonable rent payments to

In D.L. Anderson’s Lakeside Leisure Co. v. Anderson, 2008 WI 126 (filed 2 Dec. 2008) the Wisconsin Supreme Court addressed the interplay between tradenames, noncompete agreeements, and tort law. Anderson involved an asset purchase agreement whereby Seller agreed to sell certain assets, including seller’s tradename, to buyer and seller agreed to a noncompete agreement with