Court Opinion

ID: 9686013
Source: CourtListenerOpinion
Date Created: 2023-08-24 15:13:57.226773+00
Date Added: 2024-06-11T09:35:22.208552
License: Public Domain

ASHLAND, Bankruptcy Judge,
dissenting:
I respectfully dissent.
The issue before us is whether the conduct of the bank supports a finding of contempt. I cannot say that the trial court’s determination is clearly erroneous.
Under § 542(b) an entity is required to turnover property of the debtor except to the extent it is subject to being offset in § 553. The setoff in § 553 is subject to the automatic stay of § 362(a)(7). The administrative freeze is tantamount to a setoff. The bank should have asked for relief from the stay.
I would affirm.