Legal Opinion
In Re Adler Coleman Clearing Corp.
United States Bankruptcy Court, S.D. New York
Decided July 1, 1996No. 19-35339PublishedCited by 9 opinions
1Opinion of the Court
MEMORANDUM DECISION
JAMES L. GARRITY, Jr., Bankruptcy Judge.
In a Securities Investor Protection Act (“SIPA”) liquidation proceeding, a person whose claim against the debtor qualifies as a “customer claim” is entitled to preferential treatment in the distribution of assets from the debtor’s estate. The mechanism through which such preferential status is implemented is the creation of a fund of customer property distinct from the general estate. See 15 U.S.C. § 78III (4) (defining “customer property”). The Securities Investor Protection Corporation (“SIPC”) supplements the fund of customer…
2Cases cited15 opinions
- Fed. Sec. L. Rep. P 95,351 Billie Jean Woodward v. Metro Bank of DallasCourt of Appeals for the Fifth Circuit · 1975
- Fed. Sec. L. Rep. P 96,916 Edwards & Hanly v. Wells Fargo Securities Clearance CorporationCourt of Appeals for the Second Circuit · 1979
- Kyung Sup Ahn, M.C., P.C. v. Rooney, Pace Inc.District Court, S.D. New York · 1985
- In Re Arthur Carol Sanford, Debtor. United States of America v. Arthur Carol SanfordCourt of Appeals for the Eleventh Circuit · 1992
- Connolly v. HavensDistrict Court, S.D. New York · 1991
10 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Mishkin v. Siclari (In Re Adler, Coleman Clearing Corp.)United States Bankruptcy Court, S.D. New York · 2002
- Rozsa v. May Davis Group, Inc.District Court, S.D. New York · 2002
- In Re Klein, Maus & Shire, Inc.United States Bankruptcy Court, S.D. New York · 2003
- Mishkin v. Ensminger (In Re Adler, Coleman Clearing Corp.)United States Bankruptcy Court, S.D. New York · 1998
- Ferris, Baker Watts, Inc. v. Stephenson (In Re MJK Clearing, Inc.)United States Bankruptcy Court, D. Minnesota · 2002
4 more not listed; retrieve them via the Exa API.