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MATTER OF JOHNSON

No. 76-1411.

552 F.2d 1072 (1977)

In the Matter of Robert Dale JOHNSON, Bankrupt. Bruce GOLDSTEIN, Successor to S. David Rubenstein, Receiver in Bankruptcy, Appellant, v. McLEAN BANK, Appellee.

United States Court of Appeals, Fourth Circuit.

Decided April 5, 1977.

Attorney(s) appearing for the Case

Gregory U. Evans, Arlington, Va. (James H. Simmonds, Simmonds, Coleburn, Towner & Carman, Arlington, Va., on brief), for appellant.

Bernard S. Cohen, Alexandria, Va. (Stephen D. Annand, Cohen and Vitt, P. C., Alexandria, Va., on brief), for appellee.

Before HAYNSWORTH, Chief Circuit Judge, CRAVEN, Circuit Judge, and FIELD, Senior Circuit Judge.

CRAVEN, Circuit Judge:

The Receiver in the bankruptcy of Robert D. Johnson brought an adversary proceeding to collect a cashier's check in the amount of $776,590 issued by the McLean Bank. The Bank defended, not upon the instrument,1 but under Section 68 of the Bankruptcy Act, 11 U.S.C. § 108. It sought to have set-off against its obligation to pay the cashier's check its even larger counterdemand against the bankrupt as guarantor...

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