Wis. Stat. § 647.06: Receivership or liquidation.

(1) A petition for appointment of a receiver or liquidator for a facility may be filed by a resident, a resident’s guardian or the commissioner in the circuit court for the county in which the facility is located. If the court determines, after notice to the provider and a hearing, that a provider is not able to meet the terms of its continuing care contracts and other obligations, the court may appoint a receiver or liquidator and may set forth the powers, duties, compensation and liabilities of the receiver or liquidator.

(2) Any provider who voluntarily seeks to liquidate a facility shall notify the commissioner in advance.