Legal Opinion
Verco Industries v. Spartan Plastics
Court of Appeals for the Ninth Circuit
Decided April 27, 1983No. 81-5298PublishedCited by 5 opinions
1Opinion of the Court
BOOCHEVER, Circuit Judge.
This appeal from the Bankruptcy Appellate Panel, 10 B.R. 347, presents a novel issue as to whether a debtor-in-possession which invalidated a sale for failure to comply with bulk transfer laws and retained the sale property for the benefit of the estate’s creditors, may recover the balance owed on the sale free from the buyer’s claim of set-off. Because the buyer is entitled to a set-off we reverse in part.
I
Facts
The material facts are undisputed. On December 21, 1979, Verco Industries (“Verco”) closed a sale to Spartan Plastics (“Spartan”) of machinery, tools, and a…
2Cases cited13 opinions
- Buffum v. Peter Barceloux Co.Supreme Court of the United States · 1933
- Escalle v. MarkNevada Supreme Court · 1919
- In re Seward Dredging Co.Court of Appeals for the Second Circuit · 1917
- Misty Management Corp. v. LockwoodCourt of Appeals for the Ninth Circuit · 1976
- Schainman v. DeanCourt of Appeals for the Ninth Circuit · 1928
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3Cited by5 opinions
- Acequia, Inc. v. Clinton (In re Acequia, Inc.)Court of Appeals for the Ninth Circuit · 1994
- Wedtech Corp. v. Nofziger (In Re Wedtech Corp.)United States Bankruptcy Court, S.D. New York · 1988
- Marketing Resources International Corp. v. PTC Corp. (In Re Marketing Resources International Corp.)United States Bankruptcy Court, E.D. Pennsylvania · 1984
- Sabre Farms, Inc. v. BergendahlDistrict Court, D. Oregon · 1984
- Lopez Stubbe Y Otros v. Gus Lallande Y OtrosSupreme Court of Puerto Rico · 1998