Tuition Payments by Insolvent Parents (Likely) Constitute Fraudulent Transfers
Bankruptcy trustees in some parts of the country are filing fraudulent transfer suits to recover tuition payments that insolvent parents made on behalf of their children over age 18.
In March, Chief Bankruptcy Judge Carla E. Craig of Brooklyn, N.Y., notched a victory for colleges and universities by holding that concepts borrowed from structured finance will insulate educational institutions from fraudulent transfer liability.
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