Files Motion for Relief from Automatic Stay in Diamond Case
Automotive Component Holdings LLC (ACH) has filed a motion for
relief from the automatic stay to offset mutual prepetition claims
between it and Diamond Glass. This motion follows ACH's previously
filed objection in Diamond's bankruptcy case. (CLICK
HERE for related story.)
In the motion, ACH, which recently was purchased by Zeledyne LLC,
writes that it sold glass to Diamond pre-petition, on credit terms,
and that Diamond performed auto glass replacement services for it
on credit terms. Currently, ACH has an unpaid prepetition contract
claim against Diamond for $572,327.32 for glass that it sold and
delivered to Diamond prior to the April 1 filing, while it owes
Diamond approximately $350,000 for work Diamond performed for it
under the companies' joint contract.
Through the motion, ACH is requesting "relief from the automatic
stay to permit ACH to offset [its] prepetition indebtedness to Diamond
Glass against ACH's prepetition claim against the Debtor."
The bankruptcy code's automatic stay, however, prevents ACH currently
from "offsetting" its debt against the debt that Diamond
owes to it, according to court documents.
for full text of motion.
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