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net sale proceeds was not the receipt of taxable income but
rather “a partial restitution by tortfeasor”.
Petitioner is in effect seeking to relitigate in this forum
his claims that Kidder Peabody improperly handled his account.
These are claims that the District Court ordered the parties to
arbitrate, but petitioner has failed to comply with that order.
Petitioner apparently is displeased with the results he obtained
in District Court. Therefore, having made appeals, and otherwise
sought reconsideration, of the District Court’s order until
enjoined from any further filings, petitioner now seeks to bring
Kidder Peabody (as a “hostile witness”) into this Court.
Petitioner, however, has already had ample opportunity to
demonstrate the alleged tortious conversion, but, because he
refuses to obey the District Court’s order, he has failed to do
so.
In any event, the evidence before this Court flatly belies
petitioner’s contentions of tortious conversion. The written
agreements between Kidder Peabody and petitioner reveal an agency
relationship between a broker and its customer. Although
disputes clearly arose, we have no reason to find that the agency
relationship ended before November 14, 1991, when petitioner,
after considerable prodding by Kidder Peabody, submitted an
explicit authorization to liquidate his account.
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