Cadwalader allows sharing content.
Email to a friend or colleague:
From
To
Subject
Email The United States Bankruptcy Court for the District of Delaware has ruled that a creditor cannot effect a “triangular” setoff of the amounts owed between it and three affiliated debtors, despite pre-petition contracts that expressly contemplated multiparty setoff. In re SemCrude, L.P., Case No. 08-11525 (BLS), 2009 WL 68873 (Bankr. D. Del. Jan. 9, 2009). https://www.cadwalader.com/resources/clients-friends-memos/delaware-bankruptcy-court-decision-in-semcrude-poses-setback-to-triangular-setoff