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IN RE LLOYD SECURITIES, INC.

Adv. No. 90-0985DAS.

163 B.R. 242 (1994)

In re LLOYD SECURITIES, INC., Debtor.

United States Bankruptcy Court, E.D. Pennsylvania.

January 21, 1994.

Attorney(s) appearing for the Case

Robert E. Shields, Drinker Biddle & Reath, Philadelphia, PA, Trustee.

Warren Pratt, Drinker, Biddle & Reath, Philadelphia, PA, for trustee.

Richard L. Bazelon, Bazelon & Less, Philadelphia, PA, for customers.

Michael E. Don, Asst. Gen. Counsel, Washington, DC, for SIPC.

Michael T. Scott, Reed Smith Shaw & McClay, Philadelphia, PA, for certain other claimants.

Frederic Baker, Philadelphia, PA, Asst. U.S. Trustee.

OPINION

DAVID A. SCHOLL, Bankruptcy Judge.

A. INTRODUCTION

The matter before this court raises issues of first impression as to whether compensation for attorney fees and costs incurred by certain of the alleged former customers ("the Customers") of a brokerage firm liquidated under the Securities Investor Protection Act, 15 U.S.C. §§ 78aaa, et seq. ("SIPA"), are recoverable...

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