Amends the Securities Investor Protection Act of 1970 to require a district court to refer an entire securities broker or dealer liquidation proceeding to the bankruptcy judges for the district upon the issuance of a protective decree and appointment of a trustee. Allows the district court to withdraw such proceeding, in whole or in part, for cause shown, with specified exceptions.
Provides for the participation of the Securities Investor Protection Corporation in liquidation proceedings held in State courts.
Makes technical amendments required by enactment of the Bankruptcy Amendments and Federal Judgeship Act of 1984.
Introduced in Senate
Read twice and referred to the Committee on Judiciary.
Referred to Subcommittee on Courts.
Committee on Judiciary requested executive comment from Justice Department, Administrative Office of the United States Courts.
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