Wisconsin Statutes
Wis. Stat. § 242.02 (2026)
Insolvency
✓ current as of July 2026
Find cases:
SyfertCases citing this section
WI-LEGdocs.legis.wisconsin.gov
JustiaChapter on Justia
CornellLII Search
CasesGoogle Scholar
242.02(1)(a)(a) “Assets” do not include property that has been transferred, concealed or removed with intent to hinder, delay or defraud creditors or that has been transferred in a manner making the transfer voidable under this chapter.
242.02(1)(b)(b) “Debts” do not include an obligation to the extent it is secured by a valid lien on property of the debtor not included as an asset.
242.02(2)(2) A debtor is insolvent if, at a fair valuation, the sum of the debtor’s debts is greater than the sum of the debtor’s assets.
242.02(3)(3) A debtor who is generally not paying the debtor’s debts as they become due other than as a result of a bona fide dispute is presumed to be insolvent. The presumption imposes on the party against which the presumption is directed the burden of proving that the nonexistence of insolvency is more probable than its existence.
Notes of Decisions
Cited in 8
cases, 1942–2017 · leading case: Badger State Bank v. Taylor, 2004 WI 128 (Wis. 2004).
Badger State Bank v. Taylor, 2004 WI 128 (Wis. 2004). “" Wis. Stat. § 242.02 (2). 13 " 'Transfer' means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease and creation of a lien or other…”
Newman v. Associated Bank, Nat'l Ass'n (In re World Mktg. Chicago, LLC), 574 B.R. 670 (Bankr. N.D. Ill. 2017). “See Wis. Stat. Ann. §§ 242.02 (2)-(3). The Bankruptcy Code uses the definition differently than the Wisconsin UFTA, however.”
Badger State Bank v. Taylor, 2004 WI App 17 (Wis. Ct. App. 2003). “See Wis. Stat. § 242.02 (2) (2001-02). 1 ¶ 3.”
Feldman v. Comm'r, 2011 T.C. Memo. 297 (Tax Ct. 2011). “02(2) ("A debtor is insolvent if the sum of the debtor's debts is greater than all of the debtor's assets at a fair valuation.”
Vill. of West Milwaukee v. Bergstrom Mfg. Co., 7 N.W.2d 587 (Wis. 1942). “But, as the transfer left the Company without any assets to pay its indebtedness to plaintiff it was then insolvent under sec. 242.02, Stats.; and its insolvency was admitted in Bergstrom’s testimony.”
Kepler v. Koch (In re Kirchner), 372 B.R. 459 (Bankr. W.D. Wis. 2007). “” Wis. Stat. § 242.02 (2). “Asset” means property of a debtor, but does not include any of the following: (a) Property to the extent it is encumbered by a valid lien.”
Shockley v. Comm'r, 2015 T.C. Memo. 113 (2015). “As discussed, the tax on the sales of the assets was a debt to SCC as of the date of sale, May 31, 2001.”
In Re Mcclearn, 384 B.R. 196 (Bankr. W.D. Wis. 2007). “The Trustee’s complaint against DFZ alleged facts which demonstrated that the DFZ mortgage was fraudulent under Wis. Stat. § 242.02 , and moved the Court to avoid the mortgage, invoking the Trustee’s strong-arm powers as a hypothetical lien creditor under 11 U.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.