In Re Stalvey & Associates, Inc.

How courts have described this case

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

• finding that customer status in the course of some dealings with broker did not confer that status upon other dealings, where broker defrauded customer, “no matter how intimately related, unless those other dealings also fall within the ambit of the statute”
• finding bonds to be customer property where the debtor, through the debtor’s president or one of its employees, “had at least access to the bonds . . . and physical possession of the bonds”
• SIPA “designed relief predicated upon the specific securities or transactions for which a claim is made”
• customer status with respect to one account does not confer customer status on other accounts
• the “first requirement is that the broker must have ‘received, acquired, or held’ the securities”
• “[claimant’s] customer status in the course of some dealings with a broker will not confer customer status upon other dealings, no matter how intimately related, unless those other dealings also fall within the ambit of the statute.”

Source: CourtListener parenthetical corpus (CC0).