Five days later, petitioner filed in the Bankruptcy Court, under s362 ( d ), a " Motion for Relief from Automatic Stay and for Setoff ."
12.
While the bank could not unilaterally use the account balance to pay off a loan, Scalia wrote, it can freeze the account while seeking bankruptcy court permission for a setoff.
13.
It concluded that petitioner's " administrative hold " constituted a " setoff " in violation of s362 ( a ) ( 7 ) and sanctioned petitioner.
14.
The principal question for decision is whether petitioner's refusal to pay its debt to respondent upon the latter's demand constituted an exercise of the setoff right and hence violated the stay.
15.
We decline to address respondent's contention, not raised below, that the confirmation of his Chapter 13 Plan under 11 U . S . C . s1327 precluded petitioner's exercise of its setoff right.
16.
Petitioner's refusal to pay its debt to respondent upon the latter's demand was not a setoff within the meaning of s362 ( a ) ( 7 ), and hence did not violate the automatic stay.
17.
Although no federal right of setoff is created by the Bankruptcy Code, 11 U . S . C . s553 ( a ) provides that, with certain exceptions, whatever right of setoff otherwise exists is preserved in bankruptcy.
18.
Although no federal right of setoff is created by the Bankruptcy Code, 11 U . S . C . s553 ( a ) provides that, with certain exceptions, whatever right of setoff otherwise exists is preserved in bankruptcy.
19.
In granting respondent's motion to hold petitioner in contempt, the Bankruptcy Court concluded that petitioner's " administrative hold " constituted a " setoff " in violation of s362 ( a ) ( 7 ).
20.
Section 553 ( a ), in turn, sets forth a general rule, with certain exceptions, that any right of setoff that a creditor possessed prior to the debtor's filing for bankruptcy is not affected by the Bankruptcy Code.
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