J. David Golub - Page 9




                                        - 9 -                                          

          petitioner authorizing the liquidation of his account.  She                  
          stated that, if petitioner would provide a letter authorizing                
          liquidation, Kidder Peabody would comply.  Petitioner responded              
          with a letter asking that Kidder Peabody send him a daily                    
          statement that set forth the net asset value of his account.  The            
          letter also announced petitioner’s plans to seek reconsideration             
          of, or an appeal from, the District Court’s order.  Petitioner               
          also argued that he had demanded the liquidation of his brokerage            
          account in August of 1987.  Ms. Chervin of Kidder Peabody                    
          replied, on November 11, 1991, informing petitioner that the                 
          current price of the stock in his brokerage account was available            
          in library copies of the Wall Street Journal.  Her letter also               
          took exception to certain factual representations that petitioner            
          had made.  She concluded:                                                    
                    Moreover, I wish to note for the record that it                    
               has been more than two weeks since I put in writing, in                 
               the October 24, 1991 letter to Judge Haight, that you                   
               could get the proceeds of your account by merely                        
               delivering to me a letter of authorization for its                      
               liquidation.  I reiterated the procedure for doing so                   
               on the telephone to you more than one week ago.  In the                 
               interim, I have received your November 7, 1991 letter                   
               (delivered by hand), but no letter of authorization.                    
               Please be advised that you can sit on this matter for                   
               as long as you wish, but that Kidder, Peabody takes no                  
               responsibility for your present recalcitrance or for                    
               any recalcitrance you have exhibited in the past.                       
               Petitioner replied with a letter arguing that he had sought             
          liquidation of his account many times in the past.  The letter               
          concluded:                                                                   





Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  Next

Last modified: May 25, 2011