Legal Opinion
Securities Investor Protection Corp. v. Executive Securities Corp.
Court of Appeals for the Second Circuit
Decided May 20, 1977No. Nos. 948, 949, Dockets 77-6005, 77-6009PublishedCited by 3 opinions
1Per curiam
Yale University and Shearson Hayden Stone, Inc. appeal from an order of the district court, 423 F.Supp. 94 (S.D.N.Y. 1976), affirming the decision of the bankruptcy judge denying appellants preferential status as “customers” under the Securities Investor Protection Act of 1970, 15 U.S.C. § 78aaa et seq. Appellants entered into secured loan agreements with Executive Securities Corporation, a broker-dealer, whereby they lent securities to Executive in return for cash collateral equal to the market value of the shares. Each party retained the right to “mark to market,” that is, on one day’s…
2Cases cited2 opinions
- Securities And Exchange Commission v. F. O. Baroff Company, Inc.Court of Appeals for the Second Circuit · 1974
- Securities Investor Protection Corp. v. Executive Securities Corp.District Court, S.D. New York · 1976
3Cited by3 opinions
- In Re ESM GOVERNMENT SECURITIES, INC., Debtor. Thomas TEW, as Trustee, Plaintiff-Appellee, v. RESOURCE MANAGEMENT, Defendant-AppellantCourt of Appeals for the Eleventh Circuit · 1987
- Fed. Sec. L. Rep. P 96,062 Securities Investor Protection Corporation, Applicant-Appellee v. Executive Securities Corporation, Securities and Exchange Commission v. Executive Securities CorporationCourt of Appeals for the Second Circuit · 1977
- In Re First Interregional Equity Corp.United States Bankruptcy Court, D. New Jersey · 2003