Legal Opinion
Securities & Exchange Commission v. First Securities Co.
Court of Appeals for the Seventh Circuit
Decided January 7, 1976No. 75-1866PublishedCited by 6 opinions
1Per curiam
The difficult issue in this appeal is whether the attorney for a creditors committee is entitled to a fee from a securities law receivership.
I
The Securities and Exchange Commission commenced this receivership action against First Securities Company of Chicago within a week after Leston B. Nay, its president, committed suicide and left a note stating that the firm was insolvent because of his thefts and the spurious escrow accounts he had created. A week after the action was filed, Keith B. McKy was appointed receiver on June 17, 1968. One day later, attorneys were appointed for the receiver…
2Cases cited19 opinions
- Alyeska Pipeline Service Co. v. Wilderness SocietySupreme Court of the United States · 1975
- Sprague v. Ticonic National BankSupreme Court of the United States · 1939
- Young v. Higbee Co.Supreme Court of the United States · 1945
- Dickinson Industrial Site, Inc. v. CowanSupreme Court of the United States · 1940
- Fed. Sec. L. Rep. P 94,499 Olga Hochfelder v. Midwest Stock Exchange, Leon S. Martin v. Midwest Stock ExchangeCourt of Appeals for the Seventh Circuit · 1974
14 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Fed. Sec. L. Rep. P 96,610 Securities and Exchange Commission v. Gerson Blatt, Barton S. Udell, and John PullmanCourt of Appeals for the Fifth Circuit · 1978
- Fed. Sec. L. Rep. P 96,004 Securities and Exchange Commission v. Beisinger Industries Corp.Court of Appeals for the First Circuit · 1977
- In Re PollockUnited States Bankruptcy Court, D. Massachusetts · 1982
- Fed. Sec. L. Rep. P 95,415 Securities and Exchange Commission v. First Securities Company of Chicago, Customer Creditors Committee, Claimants-Appellants v. Keith B. McKy Receiver-Appellee, and Olga Hochfelder, Escrow Claimants-AppelleesCourt of Appeals for the First Circuit · 1976
- Fed. Sec. L. Rep. P 96,610 Securities and Exchange Commission v. Gerson Blatt, Barton S. Udell, and John PullmanCourt of Appeals for the Fifth Circuit · 1978
1 more not listed; retrieve them via the Exa API.