404 F. App'x 912
5th Cir.2010Background
- SEC filed suit against Stanford and others on Feb 16, 2009; district court appointed Ralph Janvey as receiver for Stanford assets and related entities; Janvey sought and district court ordered sale of IOF I/II and Midway Interests; district court orders granted despite Stanford's opposition; Stanford appealed interlocutorily; Fifth Circuit dismissed the appeal as moot.
Issues
| Issue | Plaintiff's Argument | Defendant's Argument | Held |
|---|---|---|---|
| Jurisdiction under 1292(a)(2) | Stanford argues lack of jurisdiction under 1292(a)(2) to review the orders. | Janvey contends the panel has jurisdiction per A Manufacturing Co. | Yes, there is jurisdiction under 1292(a)(2). |
| Mootness of the appeal | Stanford maintains the appeal is not moot and seeks relief. | Janvey argues the sale occurred to good-faith purchasers and without a stay, rendering the appeal moot. | The appeal is moot and dismissed. |
| Impact of Mohawk on A Manufacturing | Mohawk undermines the reasoning in A Manufacturing regarding interlocutory appeals. | Mohawk does not apply to the §1292(a)(2) analysis in A Manufacturing. | Mohawk is not applicable; A Manufacturing remains controlling. |
| Role of good-faith purchaser protections | Stanford challenges the sale process and seeks relief against district orders. | Good-faith purchaser protections protect the sold interests, limiting relief. | Good-faith purchaser status supports mootness; appeal dismissed. |
Key Cases Cited
- United States v. A Manufacturing Co., 541 F.2d 504 (5th Cir. 1976) (interlocutory appeal from receivership actions falls under 1292(a)(2))
- United States v. Setser, 607 F.3d 128 (5th Cir. 2010) (jurisdictional overrule authority; en banc or Supreme Court needed for overruling panel decisions)
- Mohawk Industries, Inc. v. Carpenter, 130 S. Ct. 599 (U.S. 2009) (collateral-order doctrine limited; not applicable to this context)
- Seafarers Intern. Union of N. Am. v. National Marine Servs., 820 F.2d 148 (5th Cir. 1987) (stay or injunction principles; mootness when sale occurs without stay)