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Trusts and insolvency - a guide

Private wealth structures are not immune from insolvency. Here we examine the Jersey and Guernsey position from the trustee's perspective and consider the issues with which a trustee needs to be familiar.

Test for insolvency

Guernsey, Jersey, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Ogier
The Alleged Liability of a Charter School’s Treasurer for the School’s Improper Payments Are Not an “Educational Benefit” under the Student Loan Exception to Bankruptcy Discharge

On March 18, 2020, the U.S. District Court for the Southern District of Ohio (the “District Court”), acting as appellate court for the U.S. Bankruptcy Court for the Southern District of Ohio (the “Bankruptcy Court”), affirmed the Bankruptcy Court’s decision that certain alleged liability of the Debtor, Edward Dudley, Sr., stemming from his role as treasurer for certain charter schools, was dischargeable and not exempt from bankruptcy discharge under 11 U.S.C. § 523(a)(8)(A)(ii).  That is the provision which excludes student loans and similar obligations from discharge.

USA, Ohio, Banking, Insolvency & Restructuring, Litigation, FisherBroyles LLP, Title 11 of the US Code