Securities & Exchange Commission v. Capital Counsellors, Inc.

FRIENDLY, Circuit Judge:

This is an appeal from an order of Judge Cooper of the District Court for the Southern District of New York, denying the application of a law firm, Con-boy, Hewitt, O’Brien & Boardman (Con-boy, Hewitt), for payment of $20,000 in legal fees for services rendered Capital Counsellors, Inc., a broker-dealer, and Capital Advisors, Inc., an investment adviser, both registered with the Securities and Exchange Commission (SEC). Con-boy, Hewitt also asked that its claim be granted a preference out of the assets of the two corporations as an administration expense.

The services…