In an insolvency, the three heads of set-off (contractual, legal and equitable) each represent a powerful means of effectively jumping the queue and circumventing the ordinary priority scheme between a company's secured and unsecured creditors.
The Perishable Agricultural Commodities Act regulates transactions in fresh and frozen fruits and vegetables. It does this in part by creating a general trust for the benefit of produce sellers.
USA, Healthcare & Life Sciences, Insolvency & Restructuring, Litigation, Product Regulation & Liability, Bryan Cave Leighton Paisner (Bryan Cave), Bankruptcy, Commodity, Liquidation, Fifth Circuit