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KAUFMAN v. FIRST NATIONAL BANK OF OPP, ALABAMA

No. 73-1857.

493 F.2d 1070 (1974)

Samuel KAUFMAN, As Trustee in Bankruptcy of A-OK Motor Lines, Inc., Plaintiff-Appellee, v. The FIRST NATIONAL BANK OF OPP, ALABAMA, Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied August 8, 1974.

Attorney(s) appearing for the Case

Frank J. Mizell, Jr., Montgomery, Ala., for defendant-appellant.

Samuel Kaufman, L. Wayne Collier, Montgomery, Ala., for plaintiff-appellee.

Before GODBOLD, SIMPSON and INGRAHAM, Circuit Judges.

GODBOLD, Circuit Judge:

Within four months of the bankruptcy of A-OK Motor Lines, Inc., the Bank, in order to reduce a debt due it by A-OK, set off against the debt funds on deposit in two A-OK accounts, known respectively as the "A-OK COD account" and the "A-OK escrow account."1 The bank claims the benefit of § 68 of the Bankruptcy Act, 11 U.S.C. § 108, which in certain circumstances permits setoff of mutual debts between the...

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