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IN RE MANLEY

No. 12055.

21 F.2d 529 (1927)

In re MANLEY.

District Court, N. D. Georgia.

September 7, 1927.

Attorney(s) appearing for the Case

Dorsey, Brewster, Howell & Heyman, of Atlanta, Ga., for trustee.

Carl N. Davie, of Atlanta, Ga., Orville A. Park, of Macon, Ga., and C. S. Reid, of Gainesville, Ga., for petitioner.

SIBLEY, District Judge.

I think the liability to depositors of a stockholder in an insolvent bank cannot be set off against a note due him by the bank, though the stockholder be also insolvent. Section 68 of the Bankruptcy Act (11 USCA § 108) permits and requires the set-off of mutual debts and credits; that is, those between the same parties, in the same rights and capacities. Collier on Bankruptcy (13th Ed.) 1607. Under similar language of the former Bankruptcy...

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