Fairness & Solvency Opinions Shouldn't Be Overlooked Amid Restructuring Wave
Asset Protection 101: Are You and Your Family Protected from Litigation, Creditors, and Divorce?
Bill on Bankruptcy: Rakoff Reverses Himself in Madoff Case
Last month the First Circuit Court of Appeals became the first federal appellate court to take up the matter of whether college tuition paid for an adult child by a bankrupt parent constitutes a fraudulent transfer. Chief...more
Bankruptcy trustees continue to vigorously pursue actions in which they sue colleges, universities and other institutions of higher education to recover tuition payments made by parents for their children when the parents...more
Recently, the First Circuit held that a parent’s tuition payments on behalf of an adult child do not benefit the parent’s bankruptcy estate, and a Chapter 7 trustee may therefore claw the payments back as fraudulent...more
“An investment in knowledge always pays the best interest.” Benjamin Franklin, The Way to Wealth: Ben Franklin on Money and Success (1758). For parents paying their adult child’s college education costs, however, this...more
Bankruptcy Courts throughout the country are split on the socially charged issue of whether tuition payments made by parents for their adult children can be recovered by a bankruptcy trustee as “constructively fraudulent”...more
Bankruptcy trustees continue to vigorously pursue actions in which they attempt to “clawback” tuition paid by parents to colleges, universities and other institutions of higher education for their adult children’s...more
Good news for colleges: Connecticut may be on the leading edge of a trend to bar bankruptcy trustees from pursuing colleges when parents default on their “Parent PLUS” loans. When a parent signs a “Parent PLUS” loan to...more
Another bankruptcy trustee catches another hapless college unaware. In Roach v. Skidmore College (In re Dunston), Bankr. S.D. Ga. (Jan 31, 2017), a trustee appears to win the next battle of “bankruptcy estates v. child’s...more
It is the start of a new semester, and all across the country, parents are writing tuition checks to the colleges and universities that their children attend. Colleges accept the checks on behalf of the students, the tuitions...more
A developing trend in our nation’s bankruptcy courts has been the number of lawsuits filed or threatened by bankruptcy trustees to recover tuition payments made by a student’s parents when the parents later file for...more