In re: Miami Neurological Institute, LLC
No. 17-10703-BKC-RAM, 2020 WL 3410182 (Bankr. S.D. Fla. June 19, 2020). The Firm represented a private university against claims brought by the bankruptcy trustee of an insolvent neurosurgical practice seeking to recover tuition payments made by the debtor to the university for certain of the debtor’s executives to attend the university’s executive MBA program in the healthcare sector. The trustee’s theory of the case was that the debtor had paid personal expenses of the executives for which the debtor received no value. The university’s theory of the case was that the university’s MBA program provided value both to the executives and to their employer, the debtor. After a bench trial, the United States Bankruptcy Court for the Southern District of Florida ruled in favor of the university, finding that the university’s MBA program did, in fact, provide reasonably equivalent value to the debtor.