Relying on 11 U.S.C. § 547(b), chapter 11 trustee sought to avoid payments made by debtor to three partnerships, in which debtor was a partner, that were then used by the partnerships to make loan payments to defendant bank. The bankruptcy court held that trustee could recover the payments from bank, as the "initial transferee" under 11 U.S.C. § 550, finding that the partnerships were mere "conduits" between debtor and bank. This decision was reversed by the district court in 316.pdf.