Legal Opinion
In re Paragon Securities Co.
Court of Appeals for the Third Circuit
Decided May 18, 1979No. 78-2127PublishedCited by 4 opinions
1Opinion of the Court
*553OPINION OF THE COURT
ROSENN, Circuit Judge.
This appeal concerns the recurring and difficult question of ownership of negotiable securities found in the control of a stockbroker upon his insolvency. The problem arises out of the practice of brokerage houses engaged in securities trading and underwriting to carry on their extensive business activities not only with their own funds but also with borrowed money collat-eralized by securities purchased for, and fully paid by, their customers. Paragon Securities Company (“Paragon”), a New Jersey corporation, had been engaged in the business of buying…
2Cases cited7 opinions
- New York City Transit Authority v. BeazerSupreme Court of the United States · 1979
- Herbert Tepper v. Frank H. Chichester, Trustee in Bankruptcy of the Estate of Bennett-Manning Co., BankruptCourt of Appeals for the Ninth Circuit · 1961
- Paragon Securities Company v. CohenCourt of Appeals for the Third Circuit · 1978
- Matthysse v. Securities Processing Services, Inc.District Court, S.D. New York · 1977
- Aubrey Kaufman v. Diversified Industries, Inc.Court of Appeals for the Second Circuit · 1972
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3Cited by4 opinions
- Louisiana State School Lunch Employees Retirement System v. Legel, Braswell Government Securities Corporation and Irving Trust CompanyCourt of Appeals for the Eleventh Circuit · 1983
- In Re Keene Corp.United States Bankruptcy Court, S.D. New York · 1995
- In the Matter of Paragon Securities Company, a New Jersey Corporation, Paragon Securities Company of New York, a New York Corporation, Municiplex Funding, Inc., a New Jersey Corporation, Paragon Life Agency, Inc., a New Jersey Corporation, Paragon Insurance Agency, a New Jersey Corporation, Nelson Stousland School, Inc., a New Jersey Corporation, and Paragon Securities Company of Florida, a Florida Corporation, Bankrupts, Pearl LevineCourt of Appeals for the Third Circuit · 1979
- Wichita Federal Savings and Loan Ass'n v. ComarkDistrict Court, S.D. New York · 1985