Securities And Exchange Commission v. Securities Northwest, Inc.

573 F.2d 622 Fed. Sec. L. Rep. P 96,413 SECURITIES AND EXCHANGE COMMISSION, Plaintiff-Appellee, and Securities Investor Protection Corporation, Applicant-Appellee, v. SECURITIES NORTHWEST, INC., a Washington Corporation, Defendant, and James F. Lonergan, Intervening Petitioner-Appellant. No. 76-1556. United States Court of Appeals, Ninth Circuit. April 14, 1978. I. Franklin Humsaker, III (argued), Portland, Or., for James F. lonergan. Theodore H. Focht, Gen. Counsel, Washington, D.C., for S.E.C. Appeal from the United States District Court for the Western District of Washington at Seattle. Before KOELSCH and ELY, Circuit Judges, and VAN PELT, * District Judge. KOELSCH, Circuit Judge: 1 On December 7, 1971, the Securities Investor Protection Corporation (SIPC) applied to the United States District Court for the Western District of Washington for a decree adjudicating that the customers of Securities Northwest, Inc., (Debtor), were in need of the protection provided by the Securities Investor Protection Act of 1970 (SIPA), 15 U.S.C. § 78aaa et seq. 1 The district court granted the application after making the finding required by section 78eee(b)(1)(A) and appointed a trustee…