Banks jealously guard the common law right of setoff
76 disallow a setoff
post-verdict when Medicare is involved, the logical conclusion would be that the existence of benefits received under Medicare are admissible at trial.
The Bankruptcy Court upheld Delphi's setoff
rights, subject to restrictions imposed by the Bankruptcy Code to the extent the setoff
rights arose during the 90 days prior to USAT's bankruptcy filing when USAT was insolvent.
The court next examined the taxpayer's contention that the discharge of her 1993 tax liability under BC section 524(a)(2) barred the IRS from executing its claim to setoff
Because of this greater burden, the primary carrier should also be the first to receive the benefit of the setoff
in order to reduce the coverage upon which the insured has first claim.
Where, prior to the prepayment, an execution has been served and a levy accomplished, the debtor is divested of the claim against the garnishee and can no longer exercise the setoff
16) Therefore, when dealing with the issue of credits and setoffs
at the time of sale, the income tax benefits attained by the party taking the income tax deduction should be carefully analyzed and taken into account pursuant to F.
analogue of Suit III, the plaintiff argued that no setoffs
The court also rejected the fund's setoff
The legal principle of setoff
is generally designed to facilitate the adjustment of "mutual" obligations.
21) The temporary regulations also provide for correlative adjustments and setoffs
, which are essentially the same rules provided under the 1968 regulations.
To the extent that the total amount of setoffs
asserted by the government exceeds the amount of the taxpayer's claimed refund, the excess will be barred from collection by the expiration of the period of limitations and will not generate any additional tax liability for the taxpayer.