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Nickerson & Nickerson, Inc., BK85-1713, invol. Ch. 7

Under ยง 553 and Nebraska law, an insurance broker holding unearned premiums to be refunded to the debtor/insured may recoup and set off those funds against amounts owed to it by the debtor. Any excess funds should be turned over to the bankruptcy trustee

Date: 
Tuesday, February 25, 1986
Judge: 
Judge Timothy J. Mahoney (Retired)