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IN RE STALVEY & ASSOCIATES, INC.

No. 83-4775.

750 F.2d 464 (1985)

In re STALVEY & ASSOCIATES, INC., Debtors. SECURITIES INVESTOR PROTECTION CORP. & Henry E. Chatham, Jr., As Trustee for the Liquidation of Stalvey & Associates, Inc., Appellants, v. Erbon W. WISE, Claimant, Appellee.

United States Court of Appeals, Fifth Circuit.

January 17, 1985.

Attorney(s) appearing for the Case

Theodore H. Focht, Michael E. Don, Kevin H. Bell, Washington, D.C., for Securities Investor Protection Corp.

W. McDonald Nichols, Jackson, Miss., for Chatham.

Powell G. Ogletree, Jr., Pat H. Scanlon, Brandon, Miss., for appellee.

Before WISDOM, RANDALL, and JOLLY, Circuit Judges.

WISDOM, Circuit Judge:

In this appeal from an order of the Bankruptcy Court, Erbon W. Wise, a claimant in the bankruptcy proceedings of Stalvey & Associates, asks this Court to determine whether his claim against the debtor is protected as a "customer's claim" under the Securities Investor Protection Act of 1970 (SIPA), 15 U.S.C. §§ 78aaa-78lll (1982). Wise seeks recovery for the value of his bonds, which the debtor, a broker-dealer, removed from...

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