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GILBERT v. FIRST NAT. BANK OF JACKSON

No. 79-1310.

633 F.2d 686 (1980)

A. Spencer GILBERT, III, Trustee in Bankruptcy for Char-Mac Enterprises et al., Plaintiffs-Appellants, v. FIRST NATIONAL BANK OF JACKSON, MISSISSIPPI, Defendant-Appellee.

United States Court of Appeals, Fifth Circuit. Unit A

Rehearing and Rehearing Denied February 17, 1981.

Attorney(s) appearing for the Case

A. Spencer Gilbert, III, David H. Nutt, Jackson, Miss., for plaintiffs-appellants.

W. F. Goodman, Jr., Thomas C. Gerity, Jackson, Miss., for defendant-appellee.

Before WISDOM, GARZA and REAVLEY, Circuit Judges.

Rehearing and Rehearing En Banc Denied February 17, 1981.

REAVLEY, Circuit Judge:

The trustee in bankruptcy for the bankrupts, Charles C. Duran, his wife, and his wholly owned corporation, Char-Mac Enterprises, Inc., brings this suit in an attempt to avoid a setoff by First National Bank of Jackson, Mississippi (FNB) against secured debts owed the bank by the bankrupts. He contends that the setoff was improper under § 68 of the Bankruptcy Act and a fraudulent...

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