Business Reorganization

Corporate Debtors in Subchapter V May Discharge Nondischargeable Debts

Only individuals in subchapter V of chapter 11 are barred from discharging debts found to be nondischargeable under Section 523(a).

Third Circuit Rejects Triangular Setoffs and Adopts Rationale by Judge Shannon

A triangular setoff valid under state law does not satisfy the mutuality requirement in Section 553(a).
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