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Opinion 52

Case Name: 

In re Bennion

Judge: 
Judge Clark
Date: 
Sep-16-1982
Case Number(s): 
82C-1605
Status: 

UNPUBLISHED

Body: 

Creditor sought to dismiss or convert this chapter 13 case on the ground that debtor was a "stockbroker," and thus precluded from filing a chapter 13 petition. Based on legislative history, the court ruled that "stockbrokers" were precluded from filing under chapter 13 in order to allow their customers the protections offered by chapter 7. Based on the definition of "stockholder," a sales agent of a brokerage house that is commonly called a "stockbroker" does not meet the statutory definition of "stockbroker." Such "common" stockbrokers do not have "customers" that require the protection of chapter 7, subchapter III. Creditor's motion was denied.

Internal Ref: 
Opinion 52
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