Legal Opinion
Centergas, Inc. v. Conoco, Inc. (In Re Centergas, Inc.)
United States Bankruptcy Court, N.D. Texas
Decided September 27, 1994No. 19-30145PublishedCited by 4 opinions
1Opinion of the Court
MEMORANDUM OF OPINION ON SETOFF OR RECOUPMENT
JOHN C. AJKLARD, Bankruptcy Judge.
The issue in this matter is whether prepet-ition credit card billing offsets and cash re- eeived by Conoco, Iric. (Conoco) within 90 days prior to bankruptcy are permissible re-coupments or whether they are offsets prohibited by § 553 of the Bankruptcy Code. 1 The court finds that the $179,681.77 Conoco took was an impermissible offset and that Conoco must return the funds to the Debtor. 2
FACTS 3
Centergas, Inc. (Debtor) sold Conoco products under a Jobber Franchise Agreement (JFA) dated April 1, 1990. The parties…
2Cases cited29 opinions
- Lee v. SchweikerCourt of Appeals for the Third Circuit · 1984
- In Re B & L Oil Company, Debtor, Ashland Petroleum Company v. Garry R. Appel, Trustee for B & L Oil CompanyCourt of Appeals for the Tenth Circuit · 1986
- Central Trust Co. v. Official Creditors' Committee of Geiger Enterprises, Inc.Supreme Court of the United States · 1982
- In the Matter of Alden D. Holford, Debtor. Alden D. Holford v. Melvin Lane Powers A/K/A Mel Powers and Mel Powers D/B/A Mel Powers Investment BuilderCourt of Appeals for the Fifth Circuit · 1990
- Gillman v. Preston Family Investment Co. (In Re Richardson)United States Bankruptcy Court, D. Utah · 1982
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3Cited by4 opinions
- Photo Mechanical Services, Inc. v. E.I. DuPont De Nemours & Co. (In Re Photo Mechanical Services, Inc.)United States Bankruptcy Court, D. Minnesota · 1995
- Schachter v. Tolassi (In Re 105 East Second Street Associates)United States Bankruptcy Court, S.D. New York · 1997
- Sacramento Municipal Utility District v. Mirant Americas Energy Marketing, LP (In Re Mirant Corp.)United States Bankruptcy Court, N.D. Texas · 2004
- United States v. WarfieldDistrict Court, D. Arizona · 2023