Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11

Corinthian Colleges Plan Filed

Corinthian Colleges filed with the U.S. Bankruptcy Court a Combined Chapter 11 Plan of Liquidation and Disclosure Statement. According to documents filed with the Court, "The Combined Plan and Disclosure Statement provides for the Debtors' assets already liquidated or to be liquidated over time and for the proceeds to be distributed to holders of Allowed Claims in accordance with the terms of the Combined Plan and Disclosure Statement and the priority of claims provisions of the Bankruptcy Code. Except as otherwise provided by order of the Bankruptcy Court, distributions will occur on the Effective Date or as soon thereafter as is practicable and at various intervals thereafter. The Combined Plan and Disclosure Statement provides for the establishment of the Distribution Trust which shall, as provided for in this Combined Plan and Disclosure Statement and the Distribution Trust Agreement, be the means to effect such liquidation and distribution. The Debtors will be dissolved as soon as practicable on or after the Effective Date." The Court scheduled a on July 22, 2015 to consider the Disclosure Statement.

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