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MATTER OF MULTIPONICS, INC.

No. 77-2581.

622 F.2d 725 (1980)

In the Matter of MULTIPONICS, INCORPORATED, Bankrupt. FIRST NATIONAL CITY BANK (CITIBANK), Appellant, v. William W. HERPEL, Trustee for Multiponics, Inc. in a Proceeding for Reorganization under Chapter X of the Bankruptcy Act, Appellee.

United States Court of Appeals, Fifth Circuit.

July 16, 1980.

Attorney(s) appearing for the Case

Raymond J. Salassi, Jr., New Orleans, La., for appellant.

Peter J. Butler, New Orleans, La., for appellee.

Before BROWN, TJOFLAT and GARZA, Circuit Judges.

JOHN R. BROWN, Circuit Judge:

This case, Multiponics II, involves another part of the Multiponics bankruptcy reorganization, elaborately depicted in Multiponics I.1 Here we face an attempted setoff by a bank of funds belonging to Multiponics, the bankrupt debtor. We hold that the setoff was improper and affirm the District Court's order directing the bank to turn...

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