Legal Opinion
Securities & Exchange Commission v. First Securities Co.
Court of Appeals for the Seventh Circuit
Decided November 22, 1974No. Nos. 73-2026 and 73-2027PublishedCited by 12 opinions
1Opinion of the Court
FAIRCHILD, Circuit Judge.
On June 4, 1968 Leston B. Nay, President of First Securities Company of Chicago, committed suicide. In a note he described certain spurious escrow accounts which he had created and he confessed thefts which in his view rendered First Securities bankrupt. Within a week, the Securities and Exchange Commission commenced this receivership action against First Securities. In two prior appeals we resolved questions concerning the allowance of claims against the receivership estate, Securities & Exch. Com’n v. First Securities Co. of Chicago, 463 F.2d 981 (7th Cir. 1972),…
2Cases cited14 opinions
- Cunningham v. BrownSupreme Court of the United States · 1924
- 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
- Fed. Sec. L. Rep. P 94,781 Olga Hochfelder v. Ernst & Ernst, Leon S. Martin v. Ernst & ErnstCourt of Appeals for the Seventh Circuit · 1974
- Clemens v. CraneIllinois Supreme Court · 1908
- Herbert Tepper v. Frank H. Chichester, Trustee in Bankruptcy of the Estate of Bennett-Manning Co., BankruptCourt of Appeals for the Ninth Circuit · 1961
9 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Appleton v. First National Bank Of OhioCourt of Appeals for the First Circuit · 1995
- Securities Investor Protection Corporation v. Morgan, Kennedy & Co., Inc.Court of Appeals for the Second Circuit · 1976
- Matter of SSIW Corp.United States Bankruptcy Court, S.D. New York · 1980
- In the Matter of Paragon Securities Company, a New Jersey Corporation, Paragon Securities Company of New York, a New York Corporation, Municiplex Funding, Inc., a New Jersey Corporation, Paragon Life Agency, Inc., a New Jersey Corporation, Paragon Insurance Agency, a New Jersey Corporation, Nelson Stousland School, Inc., a New Jersey Corporation, and Paragon Securities Company of Florida, a Florida Corporation, Bankrupts, Pearl LevineCourt of Appeals for the Third Circuit · 1979
- Securities and Exchange Commission v. First Securities Company of ChicagoCourt of Appeals for the First Circuit · 1974
7 more not listed; retrieve them via the Exa API.