New York County National Bank v. Massey,
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192 U.S. 138 (1904)
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U.S. Supreme Court
New York County National Bank v. Massey, 192 U.S. 138 (1904)
New York County National Bank v. Massey
Argued December 11, 1903
Decided January 4, 1904
192 U.S. 138
The balance of a regular bank account at the time of filing the petition is a debt due to the bankrupt from the bank, and, in the absence of fraud or collusion between the bank and the bankrupt with the view of creating a preferential transfer, the bank need not surrender such balance, but may set it off against notes of the bankrupt held by it and prove its claim for the amount remaining due on the notes. Pirie v. Chicago Title & Trust Co., 182 U. S. 438, distinguished.
The facts are stated in the opinion.