Court Opinion

ID: 9446586
Source: CourtListenerOpinion
Date Created: 2023-08-03 21:58:55.630565+00
Date Added: 2024-06-11T17:30:42.671660
License: Public Domain

LUMBARD, Circuit Judge
(concurring).
I concur in the result reached by the court but I do not think it necessary to examine the degree of control that the defendant exercised over the bankrupt corporation, which control in any event was considerable.
Appellant has not shown that the degree of control that he claims Roth exercised over the corporation provided Roth with any advantage with respect to the ■exercise of the set-off, and hence the issue of control is irrelevant here.
It is sufficient in this case to hold: (1) that as the bankrupt’s indebtedness to ■defendant Roth coneededly arose out of services and materials furnished by Roth, Roth was a creditor of the bankrupt and therefore in making the set-off did only what any other creditor with a similar balance of debts and credits could do under § 68, sub. a of the Bankruptcy Act, 11 U.S.C.A. § 108, sub. a; and (2) that the appellant has not shown that the wash of checks affected the corporation’s net financial position or prejudiced the bankrupt’s creditors other than as § 68 contemplates and permits.