Securities & Exchange Commission v. Credit Bancorp, Ltd.

OPINION

SWEET, District Judge.

By letter dated January 12, 2001, Carl H. Loewenson, Jr., the court-appointed re ceiver (the “Receiver”) in the above-entitled action, has submitted a revised proposed order for implementation of a partial plan of distribution for consideration by this Court.

In this Court’s previous opinion of November 29, 2000 (the “November 29 Opinion”), approving the Receiver’s proposed partial distribution plan (the “Compromise Plan”), with certain modifications, the Court expressed concern over the issue of customers whose assets are held in whole or in part with European…