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SECURITIES INVESTOR PROTECTION v. I.E.S. MANAGEMENT GROUP

Civ. A. No. 77-1039.

612 F.Supp. 1172 (1985)

SECURITIES INVESTOR PROTECTION CORPORATION, Plaintiff, v. The I.E.S. MANAGEMENT GROUP, INC., Defendant.

United States District Court, D. New Jersey.

July 12, 1985.

Attorney(s) appearing for the Case

David J. Sheehan, and Ira J. Hammer, Crummy, DelDeo, Dolan, Griffinger & Vecchione, P.C., Newark, N.J., for trustee for the Liquidation of The I.E.S. Management Group, Inc.

Arthur J. Delaney, Chd., John W. Karr, Karr, Lyons & Burns, Washington, D.C., for Stoneybrook Apartments and Townhouses, Ltd., and its partners.

OPINION

HAROLD A. ACKERMAN, District Judge.

In this complex and prolonged liquidation proceeding of Investors Economic Systems (IES) Management Group, Inc., (Management Group), Michael R. Griffinger is the appointed Trustee. Management Group, a Delaware Corporation wholly owned by IES which itself has sought relief under Chapter XI of the Bankruptcy Act, was a registered broker-dealer with the Securities and Exchange Commission. As such, it provided financial...

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