Wooten v. Vicksburg Refining, Inc. (In Re Hill Petroleum Co.)

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that no agreement existed to apply narrow exception to otherwise improper three-party, triangular setoff
• dicta; if formal tripartite agreement allowed related corporations to aggregate debts, third-party setoff may be allowed
• “The narrow exception to the rule against three party, ‘triangular’ setoffs, occurs where there is a formal agreement by the debtor that two entities may aggregate debts owed to and from the debtor.”

Source: CourtListener parenthetical corpus (CC0).