In the Matter of JAMES WILSON ASSOCIATES, Debtor. Appeals of METROPOLITAN LIFE INSURANCE COMPANY

I can accept the majority’s view that Metropolitan waived its best argument. Ante at 170. Had it not done so, this case would have been significantly more difficult.

Metropolitan sued both JWA and JWP Investors in Wisconsin state court and secured the appointment of a receiver. Under Ottman v. Tilbury, 204 Wis. 56, 234 N.W. 325 (1931) (a case cited to us by JWA!), this development ousted JWP Investors from its role as lessor and JWA from its role as sub-lessor and replaced them both with Metropolitan’s receiver. In Ott-man, the Wisconsin Supreme Court held that a receiver stood in the shoes of…