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IN RE CENTERGAS, INC.

Bankruptcy No. 292-20438-11. Adv. No. 293-2028.

172 B.R. 844 (1994)

In re CENTERGAS, INC., Debtor. CENTERGAS, INC., Plaintiff, v. CONOCO, INC., Defendant.

United States Bankruptcy Court, N.D. Texas, Amarillo Division.

September 27, 1994.

Attorney(s) appearing for the Case

Don L. Patterson, Coleman Young and Kirt E. Moelling, Hinkle, Cox, Eaton, Coffield & Hensley, Amarillo, TX, for debtor.

S. Tom Morris, Larry Sherman, and Michael G. Smith, Gibson, Ochsner & Adkins, L.L.P., Amarillo, TX, for Conoco, Inc.

MEMORANDUM OF OPINION ON SETOFF OR RECOUPMENT

JOHN C. AKARD, Bankruptcy Judge.

The issue in this matter is whether prepetition credit card billing offsets and cash received by Conoco, Inc. (Conoco) within 90 days prior to bankruptcy are permissible recoupments or whether they are offsets prohibited by § 553 of the Bankruptcy Code.1 The court finds that the $179,681.77 Conoco took...

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