In the Interest of: A.K. & C.K.

How courts have described this case

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

• “The bankrupts could not recover against these defendants for bucketing orders because they were responsible for the illegal transaction and parties to the fraud.”
• “The bankrupts could not recover against these defendants for bucketing orders because they were responsible for the illegal transaction and parties to the fraud.”
• cause of action belong to creditors and not trustee where debtor and third party were joint tortfeasors in harming interests of creditors
• trustee cannot sue third parties for aiding and abetting fraud by debtor
• even when defrauded creditors assigned to trustee their claims against New York Stock Exchange for aiding and abetting bankrupt in defrauding them, trustee lacked capacity to sue because the claims were never part of the assets of the bankrupt before its insolvency
• “[Trustee] says he wishes to secure redress, whereas the Bankruptcy Act provides for following and recovery of property transferred in fraud of creditors and for an accounting for the value of such property.”

Source: CourtListener parenthetical corpus (CC0).