The rate of exchange prevailing at or near the closing of business on the day the distribution proceeding is initiated shall govern all exchanges of foreign money in the proceeding. A foreign-money claimant in a distribution proceeding must assert its claim in the named foreign money and show the amount of U.S. dollars resulting from a conversion as of the date the proceeding was initiated.
806.37.Conversions of foreign money in a distribution proceeding.
Ch. 806: Judgment · Last amended 1991 · Last verified July 15, 2026
In one sentenceSection 806.37 fixes the exchange rate for a distribution proceeding at the rate prevailing near the close of business on the day the proceeding was initiated, and requires a foreign-money claimant there to state both the claim’s foreign money and its U.S. dollar equivalent as of that date.
Full Text of Section 806.37
Plain-English Summary
Section 806.37 addresses conversion in a distribution proceeding, where a fund or estate is divided among competing claimants. Rather than letting each foreign-money claim use its own conversion date, the section anchors every conversion to a single point in time: the rate of exchange prevailing at or near the close of business on the day the distribution proceeding is initiated governs all exchanges of foreign money in that proceeding.
The section also tells a foreign-money claimant what to file. The claimant must assert its claim in the named foreign money and also show the amount of U.S. dollars that results from converting that claim as of the date the proceeding was initiated. That dual statement lets everyone administering the distribution work from a common U.S. dollar baseline, even though the underlying claims stay stated in their own currencies.
Frequently Asked Questions
What exchange rate applies to a foreign-money claim filed in a distribution proceeding?
The rate of exchange prevailing at or near the closing of business on the day the distribution proceeding is initiated governs all exchanges of foreign money in that proceeding.
Do all claims in the distribution proceeding use the same conversion date?
Yes. Section 806.37 says that single rate shall govern all exchanges of foreign money in the proceeding, rather than letting each claim use its own conversion date.
What must a foreign-money claimant show when filing a claim in a distribution proceeding?
The claimant must assert its claim in the named foreign money and show the amount of U.S. dollars resulting from a conversion as of the date the proceeding was initiated.
Is the conversion date for a distribution proceeding the same as the conversion date used for an ordinary judgment?
No. Section 806.37 sets its own anchor date, tied to when the distribution proceeding was initiated, rather than the payment or entry dates that govern ordinary foreign-money judgments.
Can a claimant in a distribution proceeding state the claim only in foreign money without a U.S. dollar figure?
No. Section 806.37 requires the claimant to show the amount of U.S. dollars resulting from a conversion as of the date the proceeding was initiated, in addition to asserting the claim in the named foreign money.
Amendment History
History: 1991 a. 236.
Source & verification. Section text and official notes are
reproduced verbatim from the Wisconsin Statutes, published by the
Wisconsin Legislature (Legislative Reference Bureau). Last verified July 15, 2026.
· Official source
Also known as: distribution proceeding foreign currency wisconsinconversion date foreign money claim wisconsinwisconsin foreign money claim in a distribution