About the Receivership
This appointment came after the Wisconsin Department of Justice and the Wisconsin Department of Financial Institutions discovered that the Trust had a deficit of at least $21 million. More than 10,000 consumers who prepaid for their funerals are affected. As the court-appointed Receiver, Mr. Wirth was responsible for protecting the Trust’s assets, recovering the Trust’s shortfall and ensuring that consumer-depositors and funeral homes were treated fairly.
On June 12, 2015, the Honorable Peter C. Anderson, a Dane County Circuit Court Judge, approved a motion to end the receivership, which formally ended on June 30, 2015. Judge Anderson also approved a new Trust Agreement, which put a new board and Trustee in place.
Over the course of the receivership, Mr. Wirth and his team of professionals recovered more than $11.75 million while ensuring consumer-depositors whose funds were invested in the Trust received all of the benefits they were promised.
More information on the receivership can be found in the Receiver’s final report to the Court.