In re: Alice Phillips Belmonte, No. 18-2098 (2d Cir. 2019)Annotate this Case
The Second Circuit affirmed the district court's decision affirming the bankruptcy court's order requiring the law firm to remit $59,432 to the trustee of debtor's bankruptcy estate. The amount the law firm was ordered to remit was part of the proceeds of an unauthorized post-petition transfer by the debtor of the estate's property. The court held that the trustee's recovery of a portion of the Thompson Loan from the law firm did not constitute a double recovery in violation of 11 U.S.C. 550(d).