Legal Opinion
Folger Adam Security, Inc. v. DeMatteis/MacGregor, JV
Court of Appeals for the Third Circuit
Decided March 20, 2000No. 98-2164, 98-2165, 99-1107, and 99-1108UnknownCited by 2 opinions
1Opinion of the Court
OPINION OF THE COURT
MANSMANN, Circuit Judge.
In this appeal, we are asked to decide whether the affirmative defenses of setoff, recoupment, and other contract defenses, which arose as a consequence of alleged defaults under certain contracts with the debtors, constitute an “interest” under section 363(f) of the Bankruptcy Code such that a sale of the debtors’ assets in a consolidated Bankruptcy Court auction free and clear, extinguished such affirmative defenses and effectively transformed such contract rights into unimpeachable *254accounts receivable in the hands of the purchaser. Further, this…
2Cases cited22 opinions
- Mullane v. Central Hanover Bank & Trust Co.Supreme Court of the United States · 1950
- Pennsylvania Department of Public Welfare v. DavenportSupreme Court of the United States · 1990
- Jarecki v. G. D. Searle & Co.Supreme Court of the United States · 1961
- Massachusetts v. MorashSupreme Court of the United States · 1989
- Lee v. SchweikerCourt of Appeals for the Third Circuit · 1984
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3Cited by2 opinions
- Folger Adam Security, Inc. v. Dematteis/Macgregor, JvCourt of Appeals for the Third Circuit · 2000
- U.S. Bank, National Assn. v. MadisonSupreme Court of Connecticut · 2022