Can you file Bankruptcy on a company you previously owned?
If EDMC doesn't own AI then how can they file Chapter 7 on something they don't own?
DCEH is a "holdings" company... there holding it for EDMC
5 replies (most recent on top)
why they filed in Delaware?
The entire holding company can HOLD THIS!
Read the details for AiP bankruptcy filing at
https://www.inforuptcy.com/filings/debke_173751-1-18-bk-11536-art-institute-pittsburgh-llc
filing chapter 7, case #1:18-bk-11536
EDMC is not the one filing, it was filed by AiP LLC.
According to
https://www.bankruptcyobserver.com/bankruptcy-case/THE-ART-INSTITUTE-OF-PITTSBURGH
there was action on this 1/4/2019.
EDMC has filed chapter 7 on 'all' Ai schools
DCEH didn't purchase ALL Ai schools. So edmc can still file bankruptcy on an AI they kept.