Before finding that payments made by a corporation to its shareholder-employees constituted debts of the employees rather than representing advance distributions of share capital, and therefore were subject to s. 80.4(1), Rip J. stated (p. 2017):
"A debt is a sum payable in respect of a liquidated money demand. It does not include an unliquidated claim for damages. A debt is a sum of money owed in respect of which a plaintiff has a right to bring and maintain an action."