Inter Se

As between the parties or the participants.

Used judicially in

Husky Oil

:

"The central criticism has been that while outside of bankruptcy set-off strikes a fair balance between two parties with mutual obligations, in bankruptcy the material inquiry should be the rights of the estate's creditors inter se.  An inquiry which considers the rights of creditors inter se must necessarily consider a broader range of interests than an inquiry limited to ensuring fairness between only two parties.  Thus, allowing set-off in bankruptcy has been considered as unfairly limiting the class of relevant interests.  The concern has also been voiced that allowing set-off in bankruptcy ... is disruptive of a complex and sophisticated system developed for establishing priorities amongst creditors of various types, particularly where registration of a secured interest is required."

REFERENCES:

• Husky Oil v Canada 1995 3 SCR 453