Please note that customers of a failed brokerage firm get back all securities (such as stocks and bonds) that already are registered in their name or are in the process of being registered. After this first step, the firm’s remaining customer assets are then divided on a pro rata basis with funds shared in proportion to the size of claims. If sufficient funds are not available in the firm’s customer accounts to satisfy claims within these limits, the reserve funds of SIPC are used to supplement the distribution, up to a
MF Global Inc. Forced Into SIPA Liquidation
The Securities Investor Protection Corporation made the following statement on October 31, 2011 regarding MF Global Inc.:
“The Securities Investor Protection Corporation (“SIPC”) which maintains a special reserve fund authorized by Congress to help investors at failed brokerage firms, announced yesterday that it is initiating the liquidation of MF Global Inc., under the Securities Investor Protection Act (“SIPA”). SIPC today filed an application with the United States District Court for the Southern District of New York for a declaration that the customers of MF Global
- John N. Poulos was named counsel to The Billboard Company. Poulos LoPiccolo will represent The Billboard Company in seeking to obtain permits to install electronic billboards in various locations throughout New Jersey, New York and Pennsylvania.
- John N. Poulos successfully appealed and reduced the property taxes due for various home owners.
- Poulos LoPiccolo settled a number of breach of contract matters for various business owners.
Poulos LoPiccolo successfully represented a mechanical contractor in a bid protest against a public owner. After initially rejecting the client contractor’s bid as untimely, within 2 weeks the client contrator’s bid was opened by the owner.
Poulos LoPiccolo successfully represented a large Monmouth County paving contractor in a payment dispute. The matter continues, however, Poulos LoPiccolo was able to secure within a couple of weeks approximately 85% of the amounts owed to its client and is now fighting the remainder of the amounts due under the New Jersey Prompt Payment Act.
Poulos LoPiccolo has resolved