S.E.C. v. FLIGHT TRANSP. CORP.

Nos. 82-1964, 82-1976.

699 F.2d 943 (1983)

SECURITIES AND EXCHANGE COMMISSION, Appellee, v. FLIGHT TRANSPORTATION CORPORATION, FTC Executive Air Charter, Inc., FTC Cayman, Ltd., and William Rubin, Appellees, Greyhound Leasing & Financial Corporation, Appellant. SECURITIES AND EXCHANGE COMMISSION v. FLIGHT TRANSPORTATION CORPORATION, FTC Executive Air Charter, Inc., FTC Cayman, Ltd., and William Rubin, Appellees, Joyce Rubin, Appellant.

United States Court of Appeals, Eighth Circuit.

Decided February 2, 1983.


Attorney(s) appearing for the Case

Robins, Zelle, Larson & Kaplan, Howard A. Patrick, Robert M. Wattson, Carol L. Thacher, Faegre & Benson, Duane W. Krohnke, Minneapolis, Minn., for appellant Joyce Rubin.

Gray, Plant, Mooty, Mooty & Bennett, Edward J. Callahan, Jr., Thomas Darling, John L. Krenn, Minneapolis, Minn., for Greyhound Leasing & Financial Corp.

Meshbesher, Singer & Spence, Ltd., Gerald M. Singer, Daniel J. Boivin, Minneapolis, Minn., for appellee William Rubin.

Jack L. Chestnut, Chestnut & Brooks, P.A., Minneapolis, Minn., Daniel Krasner, Wolf, Haldenstein, Adler, Freeman & Herz, New York City, John A. Cochrane, Cochrane & Bresnahan, St. Paul, Minn., Lowell E. Sachnoff, Charles R. Watkins, Sachnoff, Weaver & Rubenstein, Ltd., Chicago, Ill., Thomas P. Gallagher, Minneapolis, Minn., for class plaintiffs.

Jacob H. Stillman, Associate Gen. Counsel, Richard A. Kirby, Senior Sp. Counsel, Sarah A. Miller, Elliot M. Pinta, Attys., S.E.C., Washington, D.C., for appellee S.E.C.; Paul Gonson, Sol., Washington, D.C., of counsel.

O'Connor & Hannan, Kevin M. Busch, Thomas C. Bartsh, Minneapolis, Minn., for appellee Flight Transp. Corp.

Before ARNOLD, Circuit Judge, HENLEY, Senior Circuit Judge, and DUMBAULD, District Judge.


ARNOLD, Circuit Judge.

Greyhound Leasing & Financial Corporation (Greyhound) and Joyce Rubin appeal from the District Court's denial of their motions to intervene as of right in an SEC enforcement action. We reverse.

I.

Flight Transportation Corporation (FTC), a Minnesota corporation, acts as a holding company for its two subsidiary corporations, FTC Executive Air Charter, Inc., and FTC Cayman, Ltd., which provide aircraft-charter and other general...

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