Section 128.01. Jurisdiction.

  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.

1977 c. 449 . Chapter 128 does not encroach upon the field occupied by the federal bankruptcy act merely because ch. 128 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.