Mitchell v. Chicago Partnership Board, Inc.

MEMORANDUM OPINION AND ORDER

ASPEN, Chief Judge.

Before us is Paul Mitchell’s appeal of an order of the Bankruptcy Court sustaining the trustee’s determination that Mitchell’s claim against the estate of the Debtor, the Chicago Partnership Board, Inc., is not that of a “customer” as defined in the Securities Investor Protection Act (SIPA), 15 U.S.C. § 78lll, but rather is a general unsecured claim. At issue are funds that Mitchell paid to the Debtor for interests in several limited partnerships to which he never received title because the Securities Investor Protection Corporation (SIPC) began…