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SECURITIES & EXCHANGE COM'N v. SAFETY FIN. SERVICE

No. 80-3954.

674 F.2d 368 (1982)

SECURITIES & EXCHANGE COMMISSION, Plaintiff, v. SAFETY FINANCE SERVICE, INC., et al., Defendants. GENERAL MOTORS ACCEPTANCE CORPORATION, Defendant-Appellee, v. Ben D. SISSON, Receiver for Safety Finance Service, Inc., Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

April 26, 1982.

Attorney(s) appearing for the Case

John J. Gillon, Jr., Robert J. Landry, Michael H. Ellis, New Orleans, La., for defendant-appellant.

Steven B. Witman, Gary M. Zwain, New Orleans, La., for defendant-appellee.

Before WISDOM, SAM D. JOHNSON and WILLIAMS, Circuit Judges.

JERRE S. WILLIAMS, Circuit Judge:

This controversy emerges from a larger dispute between the Securities and Exchange Commission and Safety Finance Service, Inc. (SFSI). Appellant, the court-appointed receiver of SFSI (Receiver), contests the supervisory court's decision awarding $10,110.88 from the liquidation of a receivership asset to appellee General Motors Acceptance Corp. (GMAC) in satisfaction of a chattel mortgage. Deferring to the broad discretionary powers...

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