Corinthian Colleges Students Win Official Committee Role

05/14/15
Corinthian Colleges filed for bankruptcy and shut down all its campuses, and its former students just won a formal committee role in the case. This photo taken July 8, 2014, shows a person walking past an Everest Institute sign in a office building in Silver Spring, Md.
JOSE LUIS MAGANA/ASSOCIATED PRESS

The interests of former students of defunct Corinthian Colleges Inc. who could potentially have billions of dollars in claims against the for-profit educator are getting an official voice in company’s bankruptcy case, a win for students seeking a greater sway in the case’s outcome. The Wall Street Journal has the Daily Bankruptcy Review article here.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”)

Two top U.S. banks are preparing to delete negative credit reporting records for some borrowers who filed for bankruptcy, after facing accusations of letting poor marks for unpaid debt haunt borrowers’ credit even after the debt was canceled. Read the DBR article in WSJ.

Patriot Coal Corp., which filed for bankruptcy on Tuesday, has made very significant progress in talks with a strategic purchaser that would acquire the company as going concern, a Patriot lawyer said on Wednesday. Read the DBR article in WSJ.

Apple Inc . and battery maker A123 Systems LLC are preparing to settle a three-month-old lawsuit alleging Apple poached high-level battery engineers and chemists in violation of noncompete agreements, according to a recent court filing, DBR reports in WSJ.

A judge rejected Freedom Industries Inc.’s bankruptcy plan, the Associated Press reports.

General Motors Co. plans to invest $1 billion to refurbish a Warren, Mich., tech center, WSJ reports.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa

[more]