Set Off

News & Analysis as of

Set Off Rights: Recovering Goods or Proceeds from a Bankrupt Client

When a client goes bankrupt, an unpaid supplier is often left with few remedies. Generally speaking, the unpaid supplier’s recovery is limited to their proportional share of what is left of the proceeds from the bankrupt’s...more

Creditors’ Rights Clarified By Interpretation II of the Supreme People’s Court on Several Issues Concerning the Application of the...

Understanding your rights as a creditor while navigating under China’s bankruptcy laws is becoming a must these days, especially for foreign creditors. As many foreign companies engage in business with Chinese companies,...more

Business Law Newsletter - November 2013

In This Issue: - False Notes in the Music Industry: Fiduciary Duty of Business Partners - Bankruptcy and Government Contractors - “I Have a Registered Trademark, Now What?” 3 Steps to Monitor and Enforce Your...more

Court Rejects Challenge to California’s Cap-and-Trade Carbon Offset Program

On January 25, 2013, a California state court rejected a challenge to an important component of California’s cap-and-trade scheme, its emission offset program. In the first legal decision regarding the program since its...more

Lessons for Lenders in Avoiding Liability When Exercising Setoff Rights

Last year the Superior Court of Forsyth County, North Carolina awarded approximately $2.1 million in damages against a large lender for its decision to offset debt against a deposit account of a guarantor. The trial court...more

Roger Towers: A Lender’s Right to Set Off Against an Account

Under Florida common law, a bank may set off the balance of an obligation owed to it by its depositor (e.g., a loan) against a general deposit made by the depositor (e.g., the balance of a checking or savings account) which...more

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