MATTER OF U.S. ABATEMENT CORP.

No. 93-3581.

39 F.3d 556 (1994)

In the Matter of UNITED STATES ABATEMENT CORPORATION, a/k/a U.S.A. Corp., Debtor. UNITED STATES ABATEMENT CORP., a/k/a U.S.A. Corp., Appellant, v. MOBIL EXPLORATION & PRODUCING U.S., INC., as agent for Mobil Oil Exploration & Producing Southeast, Inc. and Mobil Exploration and Producing North America, Inc., Appellee.

United States Court of Appeals, Fifth Circuit.

November 23, 1994.


Attorney(s) appearing for the Case

Richard W. Martinez, Tranchina & Martinez, New Orleans, LA, for appellant.

Sherman G. Fendler, James D. McMichael, Liskow & Lewis, New Orleans, LA, for appellee.

Before KING, JOLLY and STEWART, Circuit Judges.


KING, Circuit Judge:

This appeal involves the question whether a bankruptcy court, upon motion of a Chapter 11 debtor, may equitably subordinate the claim of a creditor who exercised a contractual right to recoup from the debtor sums it became obligated to pay to other creditors who had filed liens against the recouping creditor's property. The debtor contended that the exercise of the right of recoupment constituted an inequitable exercise of control over the debtor...

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