71 Cited authorities

Holmes v. Securities Investor Protection Corp.
503 U.S. 258 (1992) Cited 1,665 times 8 Legal Analyses
Holding that the Securities Investor Protection Corporation (SIPC) could not recover under RICO for stock-manipulation scheme that bankrupted broker-dealers, triggering a statutory requirement that SIPC meet the broker-dealers' obligations to their customers
Touche Ross Co. v. Redington
442 U.S. 560 (1979) Cited 1,715 times 1 Legal Analyses
Holding that the "central inquiry remains whether Congress intended to create, whether expressly or by implication, a private cause of action."
Securities v. Zandford
535 U.S. 813 (2002) Cited 520 times 17 Legal Analyses
Holding that the SEC may bring a public enforcement action against a broker who accepted payment for securities that he never delivered
Passenger Corp. v. Passengers Assn
414 U.S. 453 (1974) Cited 518 times
Finding that statutory construction principles "must yield to clear contrary evidence of legislative intent"
Hirsch v. Arthur Andersen Company
72 F.3d 1085 (2d Cir. 1995) Cited 678 times 2 Legal Analyses
Holding that the claims “are the property of those investors, and may be asserted only by them and to the exclusion of [the Trustee]”
Caplin v. Marine Midland Grace Trust Co.
406 U.S. 416 (1972) Cited 411 times 2 Legal Analyses
Holding that a trustee lacked standing to sue a third party for damages incurred by debenture holders of the corporate debtor
Kirschner v. KPMG LLP
2010 N.Y. Slip Op. 7415 (N.Y. 2010) Cited 314 times 8 Legal Analyses
Noting the "fundamental principle that ... the acts of agents, ... while acting within the scope of their authority are presumptively imputed to their principals"
Alliance, Environment v. Pyramid Crossgates
436 F.3d 82 (2d Cir. 2006) Cited 325 times
Holding that district court erred in failing to resolve dispute concerning the plaintiffs' Article III standing before ruling that salt was not a pollutant within the meaning of the Clean Water Act
Shearson Lehman Hutton, Inc. v. Wagoner
944 F.2d 114 (2d Cir. 1991) Cited 450 times 2 Legal Analyses
Holding there was no waiver even though defendant did not raise arbitration after knowing about his rights for three years
Koch Refining v. Farmers Union Cent. Exchange
831 F.2d 1339 (7th Cir. 1987) Cited 407 times 1 Legal Analyses
Finding no ripeness where the harm to the appellant is "still conjectural rather than actual"
Rule 12 - Defenses and Objections: When and How Presented; Motion for Judgment on the Pleadings; Consolidating Motions; Waiving Defenses; Pretrial Hearing
Fed. R. Civ. P. 12 Cited 345,449 times 922 Legal Analyses
Granting the court discretion to exclude matters outside the pleadings presented to the court in defense of a motion to dismiss
Section 541 - Property of the estate
11 U.S.C. § 541 Cited 14,372 times 73 Legal Analyses
Defining the bankruptcy estate to include "all legal or equitable interests of the debtor in property as of the commencement of the [bankruptcy] case"
Section 544 - Trustee as lien creditor and as successor to certain creditors and purchasers
11 U.S.C. § 544 Cited 8,182 times 57 Legal Analyses
Granting to the bankruptcy trustee the power to "avoid any transfer of an interest of the debtor in property"
Section 547 - Preferences
11 U.S.C. § 547 Cited 8,124 times 82 Legal Analyses
Seeking to avoid preferential transfers
Section 548 - Fraudulent transfers and obligations
11 U.S.C. § 548 Cited 6,507 times 81 Legal Analyses
Seeking to avoid constructively fraudulent transfers
Section 542 - Turnover of property to the estate
11 U.S.C. § 542 Cited 3,244 times 19 Legal Analyses
Governing turnover of property of the estate
Section 110 - Penalty for persons who negligently or fraudulently prepare bankruptcy petitions
11 U.S.C. § 110 Cited 2,199 times 3 Legal Analyses
Prohibiting bankruptcy petition preparers from providing legal assistance
Section 78bb - Effect on existing law
15 U.S.C. § 78bb Cited 906 times 30 Legal Analyses
Adopting definition of "covered security" found in paragraphs and of section 18(b) of the Securities Act of 1933
Section 1401 - Claim for contribution
N.Y. CPLR 1401 Cited 630 times
Noting that the tortfeasor against whom contribution is sought must typically be "subject to liability" to the plaintiff, unless the absence of direct liability is merely the result of a special defense
Section 78fff-2 - Special provisions of a liquidation proceeding
15 U.S.C. § 78fff-2 Cited 141 times 1 Legal Analyses
Allowing customers to participate in the distribution of the general estate if customer property does not satisfy their net equity claims
Section 240.15c3-3 - Customer protection-reserves and custody of securities
17 C.F.R. § 240.15c3-3 Cited 60 times 10 Legal Analyses
Requiring special reserve accounts to be set up for customer protection

Picard v. UBS Fund Services (Luxembourg) SA

71 Cited authorities

Holding that the Securities Investor Protection Corporation (SIPC) could not recover under RICO for stock-manipulation scheme that bankrupted broker-dealers, triggering a statutory requirement that SIPC meet the broker-dealers' obligations to their customers

Holding that the "central inquiry remains whether Congress intended to create, whether expressly or by implication, a private cause of action."

Holding that the SEC may bring a public enforcement action against a broker who accepted payment for securities that he never delivered

Finding that statutory construction principles "must yield to clear contrary evidence of legislative intent"

Holding that the claims “are the property of those investors, and may be asserted only by them and to the exclusion of [the Trustee]”

Holding that a trustee lacked standing to sue a third party for damages incurred by debenture holders of the corporate debtor

Noting the "fundamental principle that ... the acts of agents, ... while acting within the scope of their authority are presumptively imputed to their principals"

Holding that district court erred in failing to resolve dispute concerning the plaintiffs' Article III standing before ruling that salt was not a pollutant within the meaning of the Clean Water Act

Holding there was no waiver even though defendant did not raise arbitration after knowing about his rights for three years

Finding no ripeness where the harm to the appellant is "still conjectural rather than actual"

Granting the court discretion to exclude matters outside the pleadings presented to the court in defense of a motion to dismiss

Defining the bankruptcy estate to include "all legal or equitable interests of the debtor in property as of the commencement of the [bankruptcy] case"

Granting to the bankruptcy trustee the power to "avoid any transfer of an interest of the debtor in property"

Seeking to avoid preferential transfers

Seeking to avoid constructively fraudulent transfers

Governing turnover of property of the estate

Prohibiting bankruptcy petition preparers from providing legal assistance

Adopting definition of "covered security" found in paragraphs and of section 18(b) of the Securities Act of 1933

Noting that the tortfeasor against whom contribution is sought must typically be "subject to liability" to the plaintiff, unless the absence of direct liability is merely the result of a special defense

Allowing customers to participate in the distribution of the general estate if customer property does not satisfy their net equity claims

Requiring special reserve accounts to be set up for customer protection