Legal Opinion
Securities & Exchange Commission v. Investors Security Leasing Corp.
Court of Appeals for the Third Circuit
Decided December 6, 1979No. Nos. 78-2111, 78-2112PublishedCited by 1 opinion
1Opinion of the Court
OPINION OF THE COURT
2Per curiam
These are appeals by United States National Bank (the Bank) and Hillard Kreimer, the receiver of Investors Security Leasing Corp. (ISLC), challenging a final order of the district court requiring the Bank to return to the “owners” the proceeds from the sale of stock found to have been used as collateral for loans to officers of ISLC.
I
This court has once before considered the particular issues here in an earlier appeal by the receiver involving a different bank. See Securities and Exchange Commission v. Investors Security Corp., 560 F.2d 561 (3d Cir. 1977) (Equibank).1…
3Cases cited1 opinion
- Fed. Sec. L. Rep. P 96,120 Securities and Exchange Commission v. Investors Security Corp. And William H. Brown. Securities and Exchange Commission v. Investors Security Leasing Corporation, William H. Brown, Dale R. McDonald and William J. Lynam. Appeal of Equibank, N.A., in No. 76-2133. Appeal of Hilliard Kreimer, Receiver for Investors Security Leasing Corporation, in No. 76-2134Court of Appeals for the Third Circuit · 1977