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IN RE ADLER COLEMAN CLEARING CORP.

Bankruptcy No. 95-08203 (JLG).

211 B.R. 486 (1997)

In re ADLER COLEMAN CLEARING CORP., Debtor.

United States Bankruptcy Court, S.D. New York.

July 18, 1997.

Attorney(s) appearing for the Case

Stefanie H. Roth, Darren Hutchinson, Cleary, Gottlieb, Steen & Hamilton, New York City, for the Trustee.

Michael Carlinsky, John F. Olsen, Orrick, Herrington & Sutcliffe, L.L.P., New York City, for RCM Capital Management, L.L.C.

Cirino M. Bruno, Gusrae Kaplan & Bruno, New York City, for Paul Russo.

Michael H. Lord, Kittay Gold & Krebsbach, P.C., New York City, for LEK Schoenau & Co.

Andrew J. Campanelli, Perry, Kearon & Campanelli, L.L.P., Westbury, NY, for Schitos.

Charles L. Chapman, Dallas, TX, pro se.

Kenneth J. Caputo, Associate General Counsel, Securities Investor Protection Corp., Washington, DC.

MEMORANDUM DECISION UPHOLDING THE TRUSTEE'S DETERMINATION DENYING THE CLAIMS BY RCM CAPITAL MANAGEMENT, L.L.C. AND EXPUNGING THE OBJECTIONS FILED WITH RESPECT TO THAT DETERMINATION

JAMES L. GARRITY, Jr., Bankruptcy Judge.

Edwin Mishkin, Esq., as the court-appointed Securities Investor Protection Act ("SIPA") trustee for the liquidation of the business of Adler Coleman Clearing Corp. ("Adler Coleman" or the "debtor"), seeks an order upholding...

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