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March 19, 2010

Trustee Sues Yale for Return of Chair Endowment as a Fraudulent Conveyance

A trustee is New York has sued Yale University seeking a return of $8 million Yale received from BreakingPoint for endowment of a Chair and naming rights to buildings.  The trustee asserts that “No material consideration flowed to BearingPoint, and no benefit to its business or assets was derived from the endowing of chairs or the naming of buildings at Yale,”

The case is In re BearingPoint Inc., 09-10691, U.S. Bankruptcy Court, Southern District of New York.  I'll try to post the complaint and follow this along. 

March 19, 2010 in Current Affairs | Permalink

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