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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Case Details
Case Citation
McKesson Corp. v. Orexigen Therapeutics Inc. (In re Orexigen Therapeutics Inc.), 20-1136 (3d Cir. March 19, 2021)
Case Name
McKesson Corp. v. Orexigen Therapeutics Inc. (In re Orexigen Therapeutics Inc.)
Case Type
Business