Legal Opinion
In Re D'Angelo
United States Bankruptcy Court, D. New Jersey
Decided August 14, 2009No. 17-10505PublishedCited by 2 opinions
1Opinion of the Court
OPINION
RAYMOND T. LYONS, Bankruptcy Judge.
INTRODUCTION
The New Jersey Bureau of Securities (“The Bureau”) has a pending action in state court against the Debtor seeking disgorgement of the proceeds of securities fraud. The Debtor has not been accused of participating in the fraud, but of receiving the financial benefit of the fraud. Be cause the court finds that a state action seeking the disgorgement of fraudulent proceeds furthers an important public purpose, the action is excepted from the automatic stay under the police power exception of Section 362(b)(4) of the Bankruptcy Code.
JURISDICTIO…
2Cases cited6 opinions
- United States v. Nicolet, Inc. And Turner and Newall, Plc v. Turner & Newall Plc. Appeal of Nicolet, Inc. Appeal of Turner & Newall PlcCourt of Appeals for the Third Circuit · 1988
- Securities and Exchange Commission v. Maurice RindCourt of Appeals for the Ninth Circuit · 1993
- In Re James, JamesCourt of Appeals for the Third Circuit · 1991
- Securities & Exchange Commission v. Towers Financial Corp.District Court, S.D. New York · 1997
- Corporacion de Servicios Medicos Hospitalarios de Fajardo v. MoraCourt of Appeals for the First Circuit · 1986
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3Cited by2 opinions
- In re WylyUnited States Bankruptcy Court, N.D. Texas · 2015
- In Re SalutiSupreme Court of New Jersey · 2011