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IN RE SAUGUS GENERAL HOSP., INC.

No. 82-1420.

698 F.2d 42 (1983)

In re SAUGUS GENERAL HOSPITAL, INC., Debtor. Philip L. SISK, Receiver of Saugus General Hospital, Plaintiff, Appellee, v. SAUGUS BANK AND TRUST COMPANY, Defendant, Appellant.

United States Court of Appeals, First Circuit.

Decided January 20, 1983.

Attorney(s) appearing for the Case

James R. DeGiacomo, Boston, Mass., with whom Susan J. Baronoff, and Roche, Carens & DeGiacomo, Boston, Mass., were on brief, for Saugus Bank and Trust Co.

Anthony M. Feeherry, Boston, Mass., with whom Jon D. Schneider, Marjorie R. Corman, and Goodwin, Procter & Hoar, Boston, Mass., were on brief, for Philip L. Sisk.

Before BROWN, Senior Circuit Judge, BOWNES and BREYER, Circuit Judges.

BREYER, Circuit Judge.

This bankruptcy appeal requires us to determine the setoff rights of a secured creditor under Massachusetts law. The creditor-appellant, Saugus Bank and Trust Co. ("the Bank"), set off about $83,000 contained in a general account and a payroll account of the debtor, Saugus General Hospital ("the Hospital"), against a $134,000 Hospital debt that was secured by a mortgage on the Hospital facility itself. The Hospital's receiver, Philip Sisk, contested...

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