- 11 U.S.C.
Ries v. Legendary Marine Inc. (In re Genmar Holdings Inc.)
Oct
29
2012
Ruling
Creditor not entitled to setoff against preference claim.
Procedural posture
Trustee sought summary judgment on its claim to recover a preference per 11 U.S.C.S. § 547 from defendant creditor. When defendant moved for summary judgment on claims that it was entitled to a setoff per 11 U.S.C.S. § 553 and /or to common law recoupment, plaintiff challenged the availability of either remedy.
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Court
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