In Re Omni Mutual, Inc.

How courts have described this case

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

• noting that it was uncontested that the limited partnership interests were not registered with the SEC and thus failed to qualify as a “security” pursuant to SIPA
• “ ‘An investor is entitled to compensation from the SIPC only if has entrusted cash or securities to a broker-dealer who becomes insolvent ....’”
• claimant’s “subjective belief that [unregistered limited partnership] interests would be protected by SIPA, regardless of how reasonable that belief may have been, is not sufficient to find that ... he had purchased a ‘security1 as ... defined by SIPA.”

Source: CourtListener parenthetical corpus (CC0).