Valid Point,,,,this one too meikodog Tuesday
Post# of 11038
Posted On: 11/03/2015 11:23:58 PM
Valid Point,,,,this one too
meikodog Tuesday, 11/03/15 10:44:28 PM
Re: None
Post # of 40737
In COR's 23 page response this evening they made this comment as a footnote at the bottom of page 20:
For this reason, the Court should also reject KCG’s request that the Court order the receiver (if appointed) to conduct
an accounting “to insure that proper amounts for any possible post
-payable adjustments are provided to DTCC.” (See Dkt. 36.) An accounting is unnecessary because, as described above, reversal of the dividend distribution will necessarily return the proper amounts to the accounts from which the dividends were taken.
While I would agree that an accounting might be 'unnecessary' as to the specific detail of 'returning proper amounts', an accounting would certainly aid in clearing up discrepancies and/or unknowns in the case and might aid Judge Strom in making a balanced decision. An accounting would also likely cut to the core of the case - the certs and what was, or wasn't, on them. In the interest of justice for all here, why not encourage transparency. We've still got 10 days, shouldn't take more than a day or two to do an accounting......
meikodog Tuesday, 11/03/15 10:44:28 PM
Re: None
Post # of 40737
In COR's 23 page response this evening they made this comment as a footnote at the bottom of page 20:
For this reason, the Court should also reject KCG’s request that the Court order the receiver (if appointed) to conduct
an accounting “to insure that proper amounts for any possible post
-payable adjustments are provided to DTCC.” (See Dkt. 36.) An accounting is unnecessary because, as described above, reversal of the dividend distribution will necessarily return the proper amounts to the accounts from which the dividends were taken.
While I would agree that an accounting might be 'unnecessary' as to the specific detail of 'returning proper amounts', an accounting would certainly aid in clearing up discrepancies and/or unknowns in the case and might aid Judge Strom in making a balanced decision. An accounting would also likely cut to the core of the case - the certs and what was, or wasn't, on them. In the interest of justice for all here, why not encourage transparency. We've still got 10 days, shouldn't take more than a day or two to do an accounting......
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Quote:
If the broker-dealer fails to deliver for 13 days, the regulation imposes a “close out” duty to purchase and deliver securities “of like kind and quantity.”
https://www.bloomberg.com/opinion/articles/20...ify%20wall
https://www.scotusblog.com/case-files/cases/m...v-manning/
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