In Re Supreme Tool & Mfg. Co.

The fundamental question presented is whether a receivership proceeding instituted by a voluntary assignment made under ch. 128, Stats., by a corporation is a proceeding in which the statutory liability of stockholders for unpaid wages can be adjudicated.

It has been decided that where an action is commenced against a banking or insurance corporation and a receiver appointed under the forerunners of' sec. 286.12 ff., Stats, (sec. 3218 ff., R. S. 1878), such action is the exclusive remedy for determination of liabilities of stockholders. Hurlbut v. Marshall (1885), 62 Wis. 590, 22 N. W. 852;…