supplier trying to contra invoice in new co

[steelsupplier]

can a outstanding debt from us to a supplier in one of our companies be contrad if their company has gone bust
they are trying to contra the old debt to them from their old bust company
with a debt owed to us bu them invoiced by our second company.

is this allowed

 

[OHRoadwarrior]

What is contrad/contra?

 

[quincy]

can a outstanding debt from us to a supplier in one of our companies be contrad if their company has gone bust
they are trying to contra the old debt to them from their old bust company
with a debt owed to us bu them invoiced by our second company.

is this allowed

When returning to answer OHRoadwarrior's question, please also include the name of your state. Thanks. And if you are not in the US, you should know that this forum handles US law questions and legal concerns only.