Settlement payments received by a law firm, from a debtor, for its client, during the 90 day preference period were not preferential. The Court ruled that the defendant law firm was not an initial transferee because it merely served as a conduit for the transfers, had no dominion or control over funds and otherwise acted in good faith.
Title: Hyman v. Bast Amron, LLP (In re Cargo Transp. Servs.),Case No.: 8:11-bk-00432-MGW (Bankr. M.D. Fla. Nov. 26, 2013)
Court: UNITED STATES BANKRUPTCY COURT MIDDLE DISTRICT OF FLORIDA TAMPA DIVISION
Date published: Nov 26, 2013