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IN RE KEY DEVELOPERS GROUP, LLC

Bankruptcy No. 8:08-bk-02929-MGW. Adversary No. 8:10-ap-00256-MGW.

449 B.R. 148 (2011)

In re KEY DEVELOPERS GROUP, LLC, Debtor. Phillip Von Kahle, as Successor Liquidating Trustee, Plaintiff, v. Greenacre Properties, Inc., Defendant.

United States Bankruptcy Court, M.D. Florida, Tampa Division.

April 15, 2011.

Attorney(s) appearing for the Case

David S. Jennis, Jennis & Bowen, P.L., J.A. McPheeters, Jennis & Bowen, Tampa, FL, for Plaintiff.

Herbert R. Donica, Donica Law Firm PA, Tampa, FL, for Defendant.

MEMORANDUM OPINION ON CROSS MOTIONS FOR SUMMARY JUDGMENT

MICHAEL G. WILLIAMSON, Bankruptcy Judge.

Under Bankruptcy Code section 550, a bankruptcy trustee may recover the value of an avoided transfer from the immediate transferee of the initial transferee unless the immediate transferee proves that it took the transfer for value, in good faith, and without knowledge of its voidability. In this case, the Debtor, as developer of a condominium project...

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