There are two similar but distinct mechanisms through which a creditor might net amounts owed to the debtor against amounts owed by the debtor — setoff and recoupment. Understanding the distinction between them, and how...more
2/21/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Bankruptcy Plans ,
Chapter 11 ,
Commercial Bankruptcy ,
Credit ,
Creditors ,
Debt ,
Debtors ,
Financial Services Industry ,
Recoupment ,
Sale of Assets ,
Setoff Rights
Troutman Pepper's Creditor’s Rights Toolkit is a series that provides practical insights to help creditors confront the challenges of commercial bankruptcy.
A claims agent is a third party retained by the debtor to take on...more
8/22/2023
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Contract Terms ,
Creditor's Committee ,
Creditors ,
Debtors ,
Non-Debtors ,
Secured Debt ,
Unsecured Debt ,
Vendors
Troutman Pepper's Creditor’s Rights Toolkit is a series that provides practical insights to help creditors confront the challenges of commercial bankruptcy.
A secured creditor is a creditor whose claim is supported by a...more
On March 19, in a matter of first impression, the Third Circuit Court of Appeals (Court) held that triangular setoff is not permissible in bankruptcy due to Bankruptcy Code Section 553(a)’s mutuality requirement, and that...more