In re Fullmer dba Fullmer Cattle Co.

Ruling: 
Setoff that did not involve the liquidation, termination or acceleration of a forward contract was an avoidable postpetition transfer of estate property.
Procedural posture: 
The debtors filed an action against a company to compel turnover of $30,000 that was used as a setoff against an accrued damage claim, allegedly pursuant to 11 U.S.C.S. § 556. The court held a hearing and issued findings.
Issue: 
ABI Membership is required to access the full summary of In re Fullmer dba Fullmer Cattle Co.. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on April 10,2009, LexisNexis #0509-123