Opinion Of Interest – In Re Orexigen Therapeutics Inc

To print this article, all you need is to be registered or login on Mondaq.com.
In its recent opinion arising out of the Orexigen
Therapeutics Inc. bankruptcy case, the US Court of Appeals for the
Third Circuit affirmed that while a creditor retains its direct
setoff rights against a debtor under Section 553 of the Bankruptcy
Code when both it and the debtor owe debts to one another, so
called "triangular" setoffs - setoffs relating to
affiliated third party debts - are not similarly protected, even if
provided for contractually.
1 In so holding, the Third Circuit
became the first US circuit court of appeals to reach the issue and

Related Keywords

Delaware , United States , , Therapeutics Inc , Mckesson , Mckesson Corporation Inc , Us Court , Patient Relationship Solutions , Bankruptcy Court , Orexigen Therapeutics Inc , Third Circuit , Bankruptcy Code , Mckesson Corporation , While Parties , Orexigen Therapeutics , Mondaq , Opinion Of Interest X2013 In Re Orexigen Therapeutics Inc Quot Mutual Means Third Circuit Confirms That Triangular Setoffs Not Entitled To Protection Under Section 553 The Bankruptcy Code , Insolvency Bankruptcy Re Structuring , Insolvency Bankruptcy , டெலாவேர் , ஒன்றுபட்டது மாநிலங்களில் , சிகிச்சை இன்க் , ம்க்கேஸ்சொன் , ம்க்கேஸ்சொன் நிறுவனம் இன்க் , எங்களுக்கு நீதிமன்றம் , திவால்நிலை நீதிமன்றம் , மூன்றாவது சுற்று , திவால்நிலை குறியீடு , ம்க்கேஸ்சொன் நிறுவனம் , நொடித்துப்போனது திவால்நிலை ,