Legal Opinion
In the Matter of Elcona Homes Corporation, Debtor-Appellant. Green Tree Acceptance, Inc.
Court of Appeals for the Seventh Circuit
Decided September 28, 1988No. 88-1152PublishedCited by 59 opinions
1Opinion of the Court
POSNER, Circuit Judge.
This appeal requires us to examine the Bankruptcy Code’s provision on set offs, which states that the Code “does not affect any right of a creditor to offset a [prebank-ruptcy] mutual debt owing by such creditor to the debtor ... against a [prebankruptcy] claim of such creditor against the debtor.” 11 U.S.C. § 553(a). The debtor, Elcona Homes Corporation, was (and still is, for this is a reorganization case) a manufacturer of mobile homes. Shortly before it went broke, Linda Markle had ordered a mobile home from one of its dealers, Monro Homes, Inc. The price was…
2Cases cited22 opinions
- Butner v. United StatesSupreme Court of the United States · 1979
- United States of America on Behalf of Its Agency Internal Revenue Service v. William H. Norton, Carrie W. Norton, F/k/a Carrie A. WoodwardCourt of Appeals for the Third Circuit · 1983
- In the Matter of Xonics Photochemical, Inc., Debtor. Appeal of Mitsui and Company (u.s.a.), IncCourt of Appeals for the Seventh Circuit · 1988
- In Re Southern Industrial Banking Corporation, Debtor. Thomas Duvoisin, Liquidating Trustee, and Bank of Commerce, Intervening v. Emmett J. FosterCourt of Appeals for the Sixth Circuit · 1987
- Boston and Maine Corporation v. Chicago Pacific CorporationCourt of Appeals for the Seventh Circuit · 1986
17 more not listed; retrieve them via the Exa API.
3Cited by59 opinions
- In Re De Laurentiis Entertainment Group Inc., a Delaware Corporation, Debtor. Carolco Television Inc. v. National Broadcasting Co.Court of Appeals for the Ninth Circuit · 1992
- Paul v. MontsCourt of Appeals for the Tenth Circuit · 1990
- Capitol Converting Equipment, Incorporated v. Lep Transport, IncorporatedCourt of Appeals for the Seventh Circuit · 1992
- In the Matter of United Sciences of America, Inc., Debtor. Daniel J. Sherman v. First City Bank of DallasCourt of Appeals for the First Circuit · 1990
- In Re: William Stoecker, DebtorCourt of Appeals for the Seventh Circuit · 1999
54 more not listed; retrieve them via the Exa API.