Ariz. Acad. of Sci. & Tech., Inc. v. Charter Asset Mgmt. Fund LP (In re Ariz. Acad. of Sci. & Tech., Inc.)

Dominic W. Lanza, United States District Judge

INTRODUCTION

Arizona Academy of Science and Technology ("Debtor") is a charter school that receives most of its funding from the state of Arizona. Beginning in 2015, Debtor entered into a series of factoring agreements with Charter Asset Management Fund, LP ("Creditor"), a California company in the business of making loans to charter schools. Under these factoring agreements, Creditor would provide cash advances to Debtor in return for the right to receive Debtor's future payments from the state.

In August 2016, Debtor filed a petition for Chapter…