The circuit courts shall have supervision of proceedings under this chapter and may make all necessary orders and judgments therefor; and all assignments for the benefit of creditors shall be subject to this chapter.
Wis. Stat. § 128.01
This chapter does not encroach upon the field occupied by the federal bankruptcy act merely because the chapter provides for a distribution, either voluntary or not, of assets of an insolvent corporation among its creditors. Gelatt v. DeDakis, 77 Wis. 2d 578, 254 N.W.2d 171 (1977). Chapter 128: Wisconsin's Bankruptcy Alternative. Murrell. Wis. Law. May 2008. Chapter 128: A Change Will Do Us Good. Furay. Wis. Law. June 2019.