It would help ensure that clients "are treated in a manner at least as beneficial as would have been the case in a liquidation under the
Securities Investor Protection Act," according to the SEC.
BakerHostetler is perhaps most well known for its role as court-appointed counsel to the
Securities Investor Protection Act (SIPA) Trustee in the recovery of billions of dollars in principal lost in the Ponzi scheme perpetrated by Bernard L.
(LBI) trustee for the liquidation of the company under the
Securities Investor Protection Act said the third interim distribution to unsecured general creditors with allowed claims has begun with checks totaling USD1.75 billion being sent to claimants.
created SIPC under the
Securities Investor Protection Act of 1970 (SIPA)
Attorney s office shows how the work under the
Securities Investor Protection Act to return funds to investors when a brokerage firm fails may have a broader impact for the benefit of customers, Harbeck said.
District Judge Robert Wilkins of Washington, D.C., ruled that the
Securities Investor Protection Act did not apply to securities issued by Stanford's offshore bank, even though the Stanford Financial Group was an SIPC member.
That unit has a separate trustee, James Giddens, appointed under the
Securities Investor Protection Act.
"Let me be very clear: In the 40 year history of the
Securities Investor Protection Act (SIPA), SIPC has never been interpreted to permit SIPC to refund the purchase price of a bad investment," Harbeck said.
It is believed that the trustee for Lehman Brothers Holdings under the
Securities Investor Protection Act may try to recover USD1bn that Citigroup, Inc took for clearing obligations for Lehman Brothers Holdings' broker-dealer subsidiary.
According to
Securities Investor Protection Act (SIPA) Trustee Irving Picard, the second largest bank in the U.S.
The professionals from Hughes Hubbard & Reed demonstrated that the
Securities Investor Protection Act was suited for dealing with the most complex insolvency in history."
THE ESTATE TAX, Fannie Mae and Freddie Mac, as well as the
Securities Investor Protection Act (SIPA), are pressing topics that Congress plans to tackle when it gets back to work this month.
