Date of Incurrence of Debt Critical to Setoff Determination.
Mondaq Business Briefing › Nbr. 2010, January 2010
Linked as:
Extract
Date of Incurrence of Debt Critical to Setoff Determination.
Originally published in The Legal Intelligencer
On Dec. 9, in In re McKay, the Bankruptcy Court for the Middle District of Florida addressed the setoff and recoupment rights of the estates of a debtor's deceased parents. The decedents' estates also sought relief from the automatic stay in order to withhold inheritance and other income from the debtor until such a time as the debtor repaid his debts to the estates. The court held that the mother's estate was not entitled to setoff or recoupment based on when the debts were incurred, but that the father's estate w...See the full content of this document
Sponsored links
