![United States: Third Circuit Rules That Parties Cannot Contract Around The Mutuality Requirement For Setoff In Bankruptcy - Troutman Pepper Hamilton Sanders](https://cdn.newsserve.net/ONPglobe256.png)
United States: Third Circuit Rules That Parties Cannot Contract Around The Mutuality Requirement For Setoff In Bankruptcy - Troutman Pepper Hamilton Sanders
On March 19, in a matter of first impression, the Third Circuit Court of Appeals (Court) held that triangular setoff is not permissible in bankruptcy due to Bankruptcy Code Section 553(a)'s...
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