Dye
Dye v. Sachs (In re Flashcom, Inc.)
Opinion
Lead Opinion
Ryan, J.
MEMORANDUM OPINION
I.INTRODUCTION
On July 22, 2002, Carolyn Dye (“Mov-ant”) filed an amended complaint against the defendants (collectively, “Defendants”), in part, to avoid and recover the debtor’s transfer of $9 minion to Andra Sachs (“An-dra”) on February 23, 2000 (the “Transfer”) under 11 U.S.C. §§ 547 (b) and 550. 1 Thereafter, Movant and Andra reached a settlement. In furtherance of the settlement, Andra consented to the entry of a judgment avoiding the Transfer under § 547(b) as a preferential transfer.
On August 25, 2006, Movant filed a motion (the “Motion”) for partial summary judgment, citing § 550, to recover $9 million from Communications Ventures III, LP, Communications Ventures III CEO & Entrepreneurs’ Funds, LP, Mayfield IX, and Mayfield Associates Funds IV (collectively, “Respondents”) as entities for whose benefit the Transfer was made. Respondents opposed. Following a hearing on December 11, 2006, I took the matter under submission to determine whether the entry of the stipulated judgment precludes Respondents from defending the avoidability of the Transfer.
II.JURISDICTION
I have jurisdiction over this matter under 28 U.S.C. § 157 (b)(1). This is a core…