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Court of Appeals of Wisconsin.
COMMUNITY BANK & TRUST, Plaintiff–Respondent,
v.
Appeal from a judgment of the circuit court for Manitowoc County: Darryl W. Deets, Judge. Affirmed.
Before NEUBAUER, P.J., REILLY and GUNDRUM, JJ.
¶ 1 PER CURIAM.
of credit by the bank to K & V. K & V defaulted, and the bank accelerated the debt. As a result of K & V's default,
Martinez was liable on his guaranty for amounts due the bank. As of October 27, 2010, the bank was owed
$536,739.40 plus interest at the contract rate of 7.5 percent. The court concluded that Martinez did not dispute any
of these facts on summary judgment.
V. The court observed that in March 2010, K & V withdrew its objection, in Martinez's presence, to the appointment
of the receiver and to the receiver's plan to sell K & V's assets and disburse the proceeds. The order approving the
asset sale directed the disbursement of the proceeds; the bank was last on the list of entities to realize funds from the
proceeds. The sale proceeds satisfied two of K & V's notes with the bank and left a balance due on a third note. The
court concluded that having withdrawn their objections, K & V and Martinez could not object to the distribution of
