Kaiser Wise’s Empirical Analysis
Citation profile
2 federal appellate · 2 state decisions
How this case has been cited
Cited by 31 later decisions — most recently September 2015 · most notably Sandy Ridge Oil Co Inc Sandy Ridge Oil Co Inc v. Centerre Bank National Association (1986), in Re Samuel William Sax Appeal of
2 federal appellate · 2 state decisions
Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.
Relationships
Applies 11 U.S.C. § 541
Relies on Butner v. United States · Bankr L Rep P 70653 in the Matter of Richard E Barker · Van Dorn Company v. Future Chemical and Oil Corporation Van Dorn Company a · Bayer v. Nicola · Quad/Graphics, Inc. v. Fass
Most-quoted passages
The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 31 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“A common situation in which limited liability is disregarded is where the shareholder has misrepresented his personal assets as corporate assets in order to get some advantage with creditors. Suppose a controlling shareholder ... persuades a lender to extend credit on favorable terms to the shareholder’s corporation by representing that the corporation has substantial net assets, but in fact it is a shell, and all the assets ostensibly owned by the corporation are actually owned by the shareholder. The corporation defaults, and when the lender tries to sue the shareholder to collect his loan — for the corporation has no assets out of which to collect it — he is met by the defense of limited liability. This is the paradigmatic case for rejecting the defense [of limited liability].”
1 later decision quote this exact passage · from the majority“Wisconsin courts have eschewed legalisms and allowed the corporate veil to be pierced, and the shareholder held personally liable, whenever limited liability would “defeat some strong equitable claim.””
1 later decision quote this exact passage · from the majoritye.g. Kolson v. Vembu“all legal and equitable interests of the debtor in property as of the commencement of the case.”
1 later decision quote this exact passage · from the majoritye.g. DLH, Inc. v. Russ
How this case has been treated — in progress
Whether each later court followed, distinguished, criticized, or overruled this decision. The treatment classification (task #35) runs highest-cited cases first and lights up here as it reaches this one.