Cook Inlet Energy, LLC, In re
Nov
16
2017
Ruling
Court deemed that the State of Alaska did not have the right to offset its liability to debtor by amounts owed to it by codebtor where proposed offsets involved separate entities in different capacities and mutuality was lacking. (Bankr. D. Alaska)
Issue(s)
Setoff; Preservation of Creditor's Right to Offset Mutual Debt.
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Court
:
Garrett, In re
Sep
21
2017
Ruling
Setoff was permissible as the right of setoff existed at the time the bankruptcy petition was filed. (Bankr. S.D. Ill.)
Issue(s)
Setoff; Preservation of Creditor's Right to Offset Mutual Debt.
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Court
:
In re Hurst
Jul
08
2016
Ruling
Agreement with debtor’s former spouse for division of property did not create a nondischargeable domestic support obligation.
Issue(s)
Should confirmation be denied due to failure to treat debt to former spouse as a nondischargeable domestic support obligation?
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Court
:
Angell v. Larabee (In re Tanglewood Farms Inc.)
May
23
2014
Ruling
Transfers were not avoidable due where transferee was entitled to an offset against larger amount owed by debtor.
Issue(s)
Were allegedly preferential transfers by debtor to soybean grower avoidable or were the payments covered by the ordinary course of business exception?
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Court
:
In re Reed
Oct
29
2013
Ruling
Relief from stay granted to allow setoff of postpetition tax refund against tax liability.
Issue(s)
Could IRS setoff postpetition tax refund against its priority tax claim .
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Court
:
Holber v. Suffolk Constr. Co. (In re Red Rock Servs. Co. LLC)
Aug
30
2012
Ruling
Creditor contractor allowed setoff of prepetition debt against amount owed to debtor subcontractor.
Procedural posture
Plaintiff, chapter 7 Trustee of the bankruptcy estate of debtor subcontractor (the sub), initiated this construction litigation seeking to collect $1,667,945, plus attorneys' fees, costs and interest, from defendant prime contractor (the prime). The prime asserted certain defenses and sought a setoff of any amounts owed.
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Court
:
Regal Fin. Bank v. Heaton (In re Heaton)
May
23
2011
Ruling
Creditor could not set off postpetition assessment of debtor's attorneys' fees against its prepetition claim against debtor.
Procedural posture
Defendant Chapter 11 debtors were prevailing parties in plaintiff creditor's complaint seeking to render nondischargeable a debt evidenced by two pre-bankruptcy commercial guaranties in the creditors' favor. The debtors moved for an award of attorney's fees against the creditor pursuant to an attorney's fees clause in the commercial guaranties.
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Court
:
In re Telligenix Corp.
Sep
23
2010
Ruling
Lessor's administrative expense claim for postpetition rent was not subject to setoff.
Procedural posture
Debtor filed a chapter 11 bankruptcy case. The debtor moved to treat a lessor's administrative claim as a pre-petition claim for purposes of set-off under 11 U.S.C.S. § 553.
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Court
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In re Lehman Bros. Holdings
May
12
2009
Ruling
Funds transferred by creditor bank to debtor's account after petition was filed were not subject to setoff.
Procedural posture
A bankruptcy debtor owed a loan debt to a foreign bank and the bank sought to set off funds in the debtor's account against such debt under 11 U.S.C.S. § 553(a). The debtor asserted that the funds were not transferred to the debtor's account by an affiliate of the debtor until after the debtor's bankruptcy petition was filed, and thus the funds were not available for setoff.
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Court
:
In re Moore
Oct
05
2007
Ruling
Creditor not entitled to relief from stay to exercise alleged right of setoff against debtor spouse's savings account.
Procedural posture
Movant creditor, a credit union, sought relief from stay per 11 U.S.C. § 362 or dismissal relative to a voluntary chapter 13 case filed by debtors, a married couple. Specifically at issue was whether the creditor was entitled to relief from stay to exercise an alleged right of setoff per 11 U.S.C. § 553(a) against debtor wife's separate savings account, by which to recoup liabilities arising by reason of debtors' joint checking account.
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Court
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