IN RE APEX OIL CO.

No. 91-3322.

975 F.2d 1365 (1992)

In re APEX OIL COMPANY, Debtor. ARTOC BANK AND TRUST, LIMITED, Appellant, v. APEX OIL COMPANY, and the Other 53 Entities that are Debtors and Debtors in Possession, Appellees.

United States Court of Appeals, Eighth Circuit.

Decided September 23, 1992.

As Modified on Denial of Rehearing November 19, 1992.


Attorney(s) appearing for the Case

John D. Quinn, Washington, D.C., argued (Richard G. Fehrenbacher and Stephen Sale on brief), for appellant.

Jesse R. Pierce, Houston, Tex., argued (John A. Moe, II, St. Louis, Mo., on brief), for appellees.

Before RICHARD S. ARNOLD, Chief Judge, FRIEDMAN, Senior Circuit Judge, and LOKEN, Circuit Judge.


RICHARD S. ARNOLD, Chief Judge.

Artoc Bank and Trust, Limited (Artoc), as assignee of the accounts receivable of Uni Refining, Inc. (Uni), filed a claim in this bankruptcy proceeding against the debtor, Apex Oil Company (Apex), for the payment of two invoices. Apex argues that it had a right to offset the amount of those invoices against money Uni owed to Apex. Artoc claims that Apex had notice of the assignment to Artoc before it engaged in the setoffs, and therefore...

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