Legal Opinion
Securities Investor Protection Corp. v. 2427 Parent Corp.
Court of Appeals for the Second Circuit
Decided February 20, 2015No. Nos. 14-97-bk(L), 14-509-bk(con), 14-510-bk(con), 14-511-bk(con), 14-512-bk(con)PublishedCited by 16 opinions
1Opinion of the Court
STRAUB, Circuit Judge:
The issue presented in this appeal is whether the Securities Investor Protection Act, 15 U.S.C. § 78aaa, et seq. (“SIPA” or “the Act”), permits an inflation or interest adjustment to “net equity” claims for customer property. We hold that it does not.
Claimants-Appellants (“Claimants”) are former investors of Bernard L. Madoff Investment Securities LLC (“BLMIS”). Trustee-Appellee Irving H. Picard (“Trustee”) was appointed, pursuant to SIPA, as trustee for the liquidation of BLMIS.
SIPA prioritizes the distribution of customer property in a broker-dealer liquidation. The…
2Cases cited11 opinions
- Chevron U. S. A. Inc. v. Natural Resources Defense Council, Inc.Supreme Court of the United States · 1984
- Skidmore v. Swift & Co.Supreme Court of the United States · 1944
- United States v. Mead Corp.Supreme Court of the United States · 2001
- Christensen v. Harris CountySupreme Court of the United States · 2000
- Securities Investor Protection Corp. v. BarbourSupreme Court of the United States · 1975
6 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Securities Investor Protection Corp. v. Bernard L. Madoff Investment Securities LLC (In re Madoff)United States Bankruptcy Court, S.D. New York · 2015
- Sec. Investor Prot. Corp. v. Bernard L. Madoff Inv. Sec. LLCDistrict Court, S.D. Illinois · 2019
- Sec. Investor Prot. Corp. v. Bernard L. Madoff Inv. Sec. LLCUnited States Bankruptcy Court, S.D. New York · 2019
- In re Fairfield Sentry Ltd.United States Bankruptcy Court, S.D. New York · 2015
- CNY Fair Housing, Inc. v. Swiss Village, LLCDistrict Court, N.D. New York · 2022
11 more not listed; retrieve them via the Exa API.