Grayson Consulting Inc. v. Wachovia Securities LLC (In re Derivium Capital LLC)
Feb
15
2011
Ruling
Brokerage commissions that were protected from recovery were customary and reasonable in amount.
Procedural posture
In a prior proceeding, the court concluded that the recovery of commissions from defendant brokers could be barred as a matter of law under 11 U.S.C.S. § 544 by virtue of the "stockbroker defense" of 11 U.S.C.S. § 546(e). The limited issue before the court was whether the payments were reasonable and customary in the securities industry.
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Court
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