United States Tenth Circuit

In a liquidation proceeding of a failed broker-dealer, for protection under the Securities Investor Protection Act (SIPA), claimants are not entitled to SIPA customer status with respect to funds sought to invest in a pooled investment scheme or other unidentified investment vehicle, but are entitled to such status for funds sought to invest in debentures.

Appellate Information

• Decided 07/03/2002
• Published 07/03/2002

Judges

• BALDOCK, Circuit Judge., Before TACHA, Chief Judge, BALDOCK, and LUCERO, Circuit Judges.

Court

• United States Tenth Circuit

Counsel

• For Appellant:
  
• Alexander B. Mitchell, II (J. Michael Morris with him on the briefs), Klenda, Mitchell, Austerman & Zuercher, L.L.C., Wichita, KS, for Appellants.


• For Appellees:
  
• Kenneth J. Caputo, Associate General Counsel and Senior Trial Counsel, Securities Investor Protection Corporation, Washington, DC (Linda S. Parks and Art C. Chalmers of Kahrs, Nelson, Fanning, Hite & Kellogg, L.L.P., Wichita, KS;  and Stephen P. Harbeck, General Counsel, Securities Investor Protection Corporation, Washington, DC, with him on the briefs), for Appellees.