Hyman v. Bast Amron LLP (In re Cargo Transp. Servs.)

Law firm acting as conduit for settlement proceeds was not an initial transferee.
Whether a law firm was an initial transferee under 11 U.S.C.S. § 550(a)(1) where a chapter 11 debtor made six 11 U.S.C.S. § 547 preferential transfers to the firm as part of a settlement agreement in a preference action in another chapter 11 case and where the firm deposited the funds into its trust account.
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Commercial case opionion summary, case decided on November 26,2013, LexisNexis #1213-092