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IN RE MALONE

Bankruptcy No. 82-04582G, Adv. No. 83-0985G.

39 B.R. 81 (1984)

In re Fergus A. MALONE, Jr., James P. Malone, Sr., William E. Malone, Co-Partners Trading as Malone Realty Company, Debtors. Fergus A. MALONE, Jr., James A. Malone, Sr., William E. Malone, Co-Partners Trading as Malone Realty Company, Plaintiffs, v. TEAMSTERS HEALTH AND WELFARE AND PENSION TRUST FUNDS OF PHILADELPHIA AND VICINITY, Defendants.

United States Bankruptcy Court, E.D. Pennsylvania.

May 14, 1984.

Attorney(s) appearing for the Case

Jack M. Bernard, Philadelphia, Pa., for plaintiff/debtors, Fergus A. Malone, Jr., James P. Malone, Sr., William E. Malone, co-partners trading as Malone Realty Company.

Stephen F. Ritner, Sagot & Jennings, Philadelphia, Pa., for defendant, Teamsters Health and Welfare and Pension Trust Funds of Philadelphia and Vicinity.

OPINION

EMIL F. GOLDHABER, Bankruptcy Judge:

The issue in the dispute at bench is whether the debtors have a right to set off their current indebtedness under the Employee Retirement Income Security Act ("ERISA") against previous excess payments made by them. For the reasons stated below we hold that the debtors have no right of setoff.

The facts of this case are as follows:1 The debtors filed a petition for reorganization...

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