In Re Hanover Square Securities

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• denying SIPA \customer\ status to holders of subordinated loan agreements collateralized by securities
• denying SIPA “customer” status to holders of subordinated loan agreements col-lateralized by securities
• “SIPA does not protect all creditors of a brokerage firm against all losses in the event of the demise of the firm.”
• “its main function is to liquidate a broker or dealer when customers’ assets are in danger”
• no security account created where debtor tried to return portion of proceeds of collateral to Claimants rather than putting excess into customer accounts for trading

Source: CourtListener parenthetical corpus (CC0).