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Higher Education: Restructuring and Compliance

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  • Served as financial advisor to counsel for holders of $20 million of an operator of for-profit post-secondary educational institution's $217 million Senior Unsecured Notes due in 2018. The holders argued that the corporation’s out-of-court restructuring violated the Trust Indenture Act of 1939 (TIA) and sought a permanent injunction against them preventing the proposed restructuring. Expert provided testimony and affirmative and rebuttal declarations supporting counsel in the case. Although the court did not grant a permanent injunction against the corporation’s $1.5 billion restructuring, the judge in the matter did state that the plaintiffs would likely prevail in litigation over their rights under the TIA being eliminated in an out-of-court restructuring.
  • Engaged by an operator of an occupational training school on the East Coast to evaluate the company’s business plan and Title IV compliance.
  • Engaged by an operator of career schools in Michigan to evaluate the company’s business plan and Title IV compliance.

* Note that some engagements took place prior to an expert joining BRG.