Legal Opinion
Focht v. Heebner
Court of Appeals for the Eleventh Circuit
Decided August 23, 2000No. 99-2510PublishedCited by 1 opinion
1Opinion of the Court
KRAVITCH, Circuit Judge:
In this appeal, we determine whether clients of an insolvent brokerage qualify as “customers” under the Securities Investor Protection Act (“SIPA” or “the Act”), 15 U.S.C. §§ 78aaa-78ffl, entitling them to funds from the brokerage’s estate and, if necessary, the Securities Investor Protection Corporation (“SIPC”). The bankruptcy and district court each concluded that the clients had deposited cash with Old Naples Securities for the purpose of investing in securities, and were therefore “customers” entitled to the protection of SIPA when the court-appointed Trustee…
2Cases cited17 opinions
- Russello v. United StatesSupreme Court of the United States · 1983
- United States v. GonzalesSupreme Court of the United States · 1997
- United States v. Wong Kim Bo, A/K/A Yee Kuk Ho, Etc.Court of Appeals for the Fifth Circuit · 1972
- Bankr. L. Rep. P 73,548 in Re William and Debra Calvert, Debtors. Green Tree Acceptance, Inc. v. William and Debra CalvertCourt of Appeals for the Eleventh Circuit · 1990
- Securities and Exchange Com'n v. Kenneth Bove & Co., Inc.District Court, S.D. New York · 1974
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3Cited by1 opinion
- In Re: Old Naples Securities, Inc., Debtor. Theodore H. Focht, Securities Investor Protection Corp. v. Kevin Heebner, Eileen C. Brown, Merritt W. BrownCourt of Appeals for the Eleventh Circuit · 2000