Legal Opinion
CarVal UK Ltd. v. Giddens ex rel. SIPA Liquidation of Lehman Bros.
Court of Appeals for the Second Circuit
Decided June 29, 2015No. Docket No. 14-890PublishedCited by 2 opinions
1Opinion of the Court
KATZMANN, Chief Judge:
This case presents the challenging task of fitting a decades-old statute to a financial arrangement of more recent vintage. Enacted in 1970, the Securities Investor Protection Act (“SIPA”) seeks to protect investors who have entrusted their assets to a broker-dealer. If the broker-dealer runs into financial trouble, SIPA authorizes the speedy return of investors’ property and ensures that investors will be made whole if the assets are lost. In this case, we must consider how SIPA treats an investor who delivered securities to a broker-dealer as part of a now-common…
2Cases cited15 opinions
- Marx v. General Revenue Corp.Supreme Court of the United States · 2013
- Pension Benefit Guaranty Corporation v. LTV Corp.Supreme Court of the United States · 1990
- Miles v. Apex Marine Corp.Supreme Court of the United States · 1990
- Zuber v. AllenSupreme Court of the United States · 1970
- Barnhart v. Peabody Coal Co.Supreme Court of the United States · 2003
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3Cited by2 opinions
- Commerzbank AG v. U.S. Bank, N.A.Court of Appeals for the Second Circuit · 2024
- FirstBank Puerto Rico v. Giddens (In re Lehman Bros. Inc.)District Court, S.D. New York · 2016