, at least as a matter of state law, are subject to the rule of "use it or lose it.
3) Although verdicts may be setoff
under the act, the common law collateral source rule still persists and bars the admission of the existence of collateral sources of indemnity at trial.
The second option is post-verdict setoffs
for collateral benefits received.
The Court then turns to the decision of the Court of International Trade that Commerce had both the power and the obligation to make the requested setoffs
Section 553(b) also limits pre-petition setoffs
by creating an improvement of position preference-like claim.
In most cases, the parties will agree that PIP setoffs
are to be a lied by the court post-trial.
In making the setoff
determination, the American Payroll court examined other decisions of the Court of Appeals for the Second Circuit: "[T]he rule allowing setoffs
, both before and after bankruptcy, is not one that the courts are free to ignore when they think that application would be 'unjust'.
Defendants repeatedly assert that because the instant plaintiff held two separate insurance policies, two setoffs
should be allowed.
While it would seem unreasonable to assume that these will not be made in appropriate circumstances, this possibility could affect the utility of the setoffs
incorporated in the penalty calculation.
Formerly an attorney with Weil, Gotshal & Manges LLP, he has advised clients on issues such as fraudulent transfers, preferences, setoffs
, recoupment, substantive consolidation, equitable subordination, recharacterization, distribution priorities, claim allowance, fiduciary duties, and security law exemptions under the Bankruptcy Code.
This allows for setoffs
free and clear of any lien.
In 1997, the Florida Legislature attempted to come to the rescue and finally resolve all of the confusion surrounding the entitlement to credits and setoffs
when the marital home is sold.
multiple defendants concerning contribution and setoffs
In 1990, the NAIC adopted a more restrictive model setoff
provision that prohibits setoffs
where a reinsurer both assumed obligations from the insolvent company and ceded insurance to that company and prohibits setoffs
between affiliated companies.
The debtor sued the vendor to recover payments within 90 days of the bankruptcy filing, as well as the recovery of the cash value of credit memos as preferences and preferential setoffs