Securities Investor Protection Corp. v. Lehman Bros.

Ruling: 
Safe harbor provision did not alter Securities Investor Protection Act principal that customer net equity claims are determined as of filing date.
Procedural posture: 
The trustee for the liquidation of the debtor, pursuant to the Securities Investor Protection Act (SIPA), 15 U.S.C.S. § 78aaa et seq., moved for an order upholding a determination as to the claim of a customer of the debtor, and moved to overrule the customer's objection to that determination. The issue concerned the effective date for determining the closing of certain short positions in the customer's prime brokerage account with the debtor.
Issue: 
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Commercial case opionion summary, case decided on June 01,2010, LexisNexis #0810-025