Legal Opinion
Securities & Exchange Commission v. Towers Financial Corp.
District Court, S.D. New York
Decided January 22, 1997No. 93 Civ. 0744 (WK) (AJP)PublishedCited by 19 opinions
1Opinion of the Court
OPINION AND ORDER
PECK, United States Magistrate Judge:
The issue before the Court is whether the SEC’s action against defendant Mitchell Bra-ter is automatically stayed by his filing for bankruptcy protection. For the reasons set forth below, the Court holds that the SEC’s action is exempted by 11 U.S.C. § 362(b)(4) from the automatic stay provided by section 362(a)(1) of the Bankruptcy Code.
FACTS
The SEC’s action against Towers and various of its officers and directors is one of several actions arising from the alleged “Pon-zi scheme” involving the Notes and Bonds of Towers Financial…
2Cases cited20 opinions
- Securities and Exchange Commission v. Manor Nursing Centers, Inc.Court of Appeals for the Second Circuit · 1972
- Board of Governors of the Federal Reserve System v. MCorp Financial, Inc.Supreme Court of the United States · 1991
- Securities and Exchange Commission v. First Financial Group of TexasCourt of Appeals for the First Circuit · 1981
- City of New York v. Exxon Corp.Court of Appeals for the Second Circuit · 1991
- National Labor Relations Board v. Continental Hagen CorporationCourt of Appeals for the Ninth Circuit · 1991
15 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- Securities and Exchange Commission v. Robert E. BrennanCourt of Appeals for the Second Circuit · 2000
- DEPT. OF SECURITIES EX REL. FAUGHT v. BlairSupreme Court of Oklahoma · 2010
- Securities & Exchange Commission v. LybrandDistrict Court, S.D. New York · 2003
- Federal Trade Commission v. First Alliance Mortgage Co. (In Re First Alliance Mortgage Co.)District Court, C.D. California · 2001
- Hoffenberg v. United StatesDistrict Court, S.D. New York · 2004
14 more not listed; retrieve them via the Exa API.