Case Summary:
On cross motions for summary judgment, court grants defendants' motion as to counts II, III, VI and VII of plaintiff's complaint.  As to count II, plaintiff, a subsidiary and creditor of defendant, lacks standing to bring ultra vires claim pursuant to Wis. Stat. § 180.0304.  As to count III, plaintiff has not established that any transfers of property to the defendants occurred within one year preceding the bankruptcy filing.  Such a showing is necessary to prevail on a claim for fraudulent conveyance pursuant to 11 U.S.C. § 548.  As to count VI, plaintiff has failed to show that any transfers to defendants occurred within one year of filing; such showing is likewise necessary to prevail on a 11 U.S.C. § 547 preference claim.  As to count VII, plaintiff has failed to support its allegations of inequitable conduct by the defendants with the requisite "substantial factual showing" sufficient to overcome summary judgment motion on equitable subordination claim under 11 U.S.C. § 510(c).

Defendants' summary judgment motions as to counts I, IV and V are taken under advisement pending further court order or trial.  Plaintiff's summary judgment motion is likewise taken under advisement.

Statue/Rule References:
11 U.S.C. § 510(c) -- Equitable Subordination
11 U.S.C. § 547 -- Preference
11 U.S.C. § 548 -- Fraudulent Conveyance
Fed. R. Bankr. P. 7056 -- Summary Judgment
Wis. Stat. § 180.0304 -- Ultra Vires Acts by Corporation

Key Terms:
Equitable Subordination
Fraudulent Conveyance
Preferences
Summary Judgment
Ultra Vires Act by Corporation