Securities & Exchange Commission v. Danning (In re Carter)

FINDINGS OF FACT AND CONCLUSIONS OF LAW RE SEC’S SUMMARY JUDGMENT MOTION AND CO-TRUSTEES’ MOTION THAT FUNDS HELD BY CO-TRUSTEES ARE PROPERTY OF THE DEBTORS’ ESTATE

Hearing

On September 9, 1985 the Securities and Exchange Commission’s (“Commission”) “Motion for Summary Judgment” (“Summary Judgment Motion”) in the above-captioned adversary proceedings and the “Co-Trustees’ Motion for Order Determining That Funds Held By The Co-Trustees Are Property Of The Debtors’ Estate” (“Co-Trustees’ Motion”) came on for hearing before the undersigned United States Bankruptcy Judge in the above-captioned Court. Theodore B. Stolman and Michael H. Goldstein appeared on behalf of the Co-Trustees; James A. Shalvoy appeared on behalf of the Commission; and Bruce Emard appeared on behalf of the Creditors’ Committee.

Having considered the pleadings and accompanying declarations filed, the arguments and representations of counsel, all pleadings and documents in this bankruptcy case and these adversary proceedings, and this Court’s “Memorandum Opinion Granting Co-Trustees’ Motion for Order Determining Nature of Funds, Denying The Motion Of The SEC For Summary Judgment and Granting Summary Judgment To…