Securities & Exchange Commission v. Elmas Trading Corp.

ORDER

EDWARD C. REED, Jr., Chief Judge.

The Receiver has moved the Court to allow the claim of Hugo M. Pfaltz in the sum of $30,114.00. In reaching this total, the Receiver has applied § 502(b)(6) of the Bankruptcy Code, which sets forth certain limitations on the amount of claims allowable by a lessor of real estate. The claimant, Pfaltz, contends that the application of the Bankruptcy Code in a securities receivership is improper, and that the total amount of the claim should be determined by the law of the real property’s situs, New Jersey. It appears to the Court that application of this…