We'll have a buyer in place before...the $100 million is due on March 30th...the correct paperwork is given to CSAC...Corinthian files bankruptcy...
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If Heald or CCI really cared for the future of the institution or students, then they should take any funds that they have left and GIVE it to the buyer. I have seen companies offer $$$ to potential buyers to take the institutions out from being shut down and giving them some kind of a shot of a future.
466 - You are probably right. The question is whether or not a sales is truly imminent. If not, the lenders may decide to cut their losses and foreclose.
I would say 4:3 odds of a shutdown. Honestly, an extension by the lenders would be in their best interest. Bankruptcy would leave them with almost no material assets to recover beyond some outdated computers and office furniture, while waiting for a sale might allow for at least a partial payment.
You're so annoying, Camden Kid. Don't you have lessons to plan or assignments to grade from your community college job?
Better chance of letting the doors close, and becoming a smaller nonprofit coop.
Finally someone who gets it. If heald goes beyond March I will honestly be amazed. Unfortunately the shut down will affect alot of good working people.
BK is 100%