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What is Bankruptcy Recoupment in Oil Contracts about?

The document discusses a case where an oil company, Ashland, overpaid another company, B&L Oil, for oil deliveries before B&L filed for bankruptcy. After the bankruptcy filing, Ashland withheld money owed to B&L for post-bankruptcy oil deliveries in order to recover the pre-bankruptcy overpayment. The bankruptcy court and district court did not allow Ashland to recoup the overpayment. The appellate court had to determine if the overpayment and subsequent oil purchases arose from the "same transaction" to al

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Scribd Government Docs

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