Chasing the Money: Unpacking Subsequent-Transfer Claims Under § 550(a)(2)

This panel delves into the legal and practical issues surrounding subsequent-transfer claims under § 550(a)(2) of the Bankruptcy Code, and examines such key issues as the scope of liability for immediate and mediate transferees, the standards courts use to determine who qualifies as a subsequent transferee, and the statutory defenses available to those parties. The discussion includes recent case law developments, practical considerations in pleading and proving such claims, and common pitfalls in litigation.