Topic
Set-off
21 published works
In Solvency
Court Reiterates that Debtor’s Setoff Rights Trump those of Claimant
In the bankruptcy case of ADI Liquidation, Inc. (f/k/a AWI Delaware, Inc.), Bankr. No. 14-12092 (KJC), the Court considered a motion by creditor Western Family Foods, Inc. (“WFFI”) for relief…
Delaware Bankruptcy Update
Court Reiterates that Debtor’s Setoff Rights Trump those of Claimant
In the bankruptcy case of ADI Liquidation, Inc. (f/k/a AWI Delaware, Inc.), Bankr. No. 14-12092 (KJC), the Court considered a motion by creditor Western Family Foods, Inc. (“WFFI”) for relief…
The Appellate Strategist
Illinois Supreme Court Agrees to Decide Whether a Motion for Setoff Stops the Time to Appeal From Running
By Kirk Jenkins
It’s one of the most fundamental rules of appellate practice: the notice of appeal has to be timely filed, or the appellate court is without jurisdiction to do anything other…
Sixth Circuit Appellate Blog
Sixth Circuit Reverses Abstention Order
In a case chocked full of civil procedure intrigue, the Sixth Circuit yesterday reversed an order abstaining from deciding a setoff counterclaim in connection with a breach of contract dispute. …
Georgia Bankruptcy Blog
ND Ga – Judge Drake Holds Bank Had Prepetition Right To Setoff Even In Absence of Formal Demand Or Default
By Sunghee Sohn
In re MCB Financial Group, Inc., Case No. 10-11176-WHD, 2011 Bankr. LEXIS 5502 (Bankr. N.D. Ga. March 31, 2011) (click here for .pdf of order) In 2008, Debtor MCB Financial…
Banking & Finance Law Report
RECOUPMENT AND SETOFF ISSUES FOR HEALTH CARE LENDERS
Health care lenders and others evaluating or relying on the financial strength of a healthcare provider need to think about the potential recoupment and setoff of claims against Medicare/Medicaid receivables…
Texas Employment Law Update
Fifth Circuit Holds that FLSA Action Is Improper Forum for Employer to Seek Set-Off Against Wage and Overtime Claims
Employers often consider asserting counterclaims against employees who file lawsuits against them. Most lawyers representing employers counsel against filing counterclaims except in exceptional cases (e.g., an employee’s theft of trade…
In Solvency
Decision in SemCrude Interprets “Mutuality” Requirement for Setoffs Under Section 553 of the Bankruptcy Code
By Fox Rothschild LLP, Fox Rothschild LLP
Introduction The Bankruptcy Code allows for the setoff of "mutual debts" in a bankruptcy proceeding under 11 U.S.C. 553(a). Section 553 makes no reference to non-mutual debts, which courts interpret to…
Delaware Bankruptcy Update
Decision in SemCrude Interprets “Mutuality” Requirement for Setoffs Under Section 553 of the Bankruptcy Code
Introduction The Bankruptcy Code allows for the setoff of "mutual debts" in a bankruptcy proceeding under 11 U.S.C. 553(a). Section 553 makes no reference to non-mutual debts, which courts interpret to…
Georgia Bankruptcy Blog
Ga App. – Party Who Settled Claim And Released Debtor Cannot Later Make Recoupment or Set-Off Claim For Same Debt
By Sunghee Sohn
Hill v. Green Tree Servicing, Inc., A06--0530, 2006 Ga. App. LEXIS 771 (Ga. App June 26, 2006) - Prior to this action, Borrower, the owner of a residential mobile home,…