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IN RE GOVERNMENT SECURITIES CORP.

No. 90-5356.

972 F.2d 328 (1992)

In re GOVERNMENT SECURITIES CORPORATION, Debtor. NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA., Defendant-Appellant, v. John R. CAMP, Jr., Trustee, Securities Investor Protection Corporation, Plaintiffs-Appellees.

United States Court of Appeals, Eleventh Circuit.

September 14, 1992.

Attorney(s) appearing for the Case

Carl K. Hoffman, Miami, Fla., plaintiff-appellant.

Neal B. Shniderman, Miami, Fla., for Camp.

Theodore H. Focht, Josephine Wang, SIPC, Washington, D.C., for Securities Investor Protection Corp.

Before TJOFLAT, Chief Judge, DUBINA, Circuit Judge, and HENDERSON, Senior Circuit Judge.

TJOFLAT, Chief Judge:

In this case, we affirm the district court's holding that the Bankruptcy Code anti-termination provision, 11 U.S.C. § 541(c)(1)(B) (1988), applies to a liquidation proceeding under the Securities Investor Protection Act of 1970, 15 U.S.C. §§ 78aaa-78lll (1988) (SIPA), to invalidate a fidelity bond clause that purports to terminate liability under the bond automatically upon the...

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