Securities & Exchange Commission v. S & P National Corp.

OPINION

THOMAS F. MURPHY, District Judge.

THE INTERIM ACCRUALS.

This aspect of the case presents questions concerning approval of accruals of interim compensation for services to the estate. The amounts involved are substantial.

November 30, 1966, was the end of the corporate defendants’ fiscal or tax year. The trustee, with the knowledge of the Court, made accruals, without payment, of compensation for services rendered by the attorneys for the corporate defendants, by the attorneys for the trustee, and by the trustee himself. After notice to ■ all the parties, and to stockholders and creditors,…