United States Sixth Circuit

A secured creditor is not entitled to the settlement of a malpractice damages claim as "proceeds" of a stock pledge where the funds pledged do not constitute settlement proceeds, but rather the "locus of the loss" is premised upon common law malpractice.

Appellate Information

• Argued 02/01/2001
• Decided 08/13/2001
• Published 08/13/2001

Judges

• Before:  MERRITT and COLE, Circuit Judges;  HOOD, District Judge.

Court

• United States Sixth Circuit

Counsel

• For Appellant:
  
• Michael Schloss (argued and briefed), U.S. Department of Labor, Office of the Solicitor, Washington, DC, for Amicus Curiae.


• For Appellees:
  
• Judith Boyers Gee (briefed), Covington, KY, Stephen M. Perry (argued and briefed), Cosner & Edwards, Boston, MA, for Plaintiff-Appellee., Marcia E. Andrew (briefed), Thomas R. Schuck (argued and briefed), Taft, Stettinius & Hollister, Cincinnati, OH, for Defendants-Appellants at Docket Nos.99-3497, 00-3461., John W. Hust (briefed), Michael E. Maundrell, Schroeder, Maundrell, Barbiere & Powers, Cincinnati, OH, David C. Greer (briefed), Bieser, Greer & Landis, Dayton, OH, R. Gary Winters (briefed), Clement J. DeMichelis (briefed), McCaslin, Imbus & McCaslin, Cincinnati, OH, James E. Burke, III (briefed), Daniel E. Izenson (briefed), Keating, Muething & Klekamp, Cincinnati, OH, for Defendants-Appellants at Docket No.00-3461.