September 2017

Operator of Technical Colleges Files for Bankruptcy

ITT Educational Services filed for bankruptcy in September 2016 after the U.S. Department of Education restricted financial aid to new students and placed other severe credit restrictions on the for-profit operator of 137 technical colleges in 39 states. Faegre Baker Daniels represented ITT in the preparation and filing of its complex Chapter 7 bankruptcy liquidation, and later represented the Chapter 7 trustee as special counsel in connection with SEC and ERISA matters.

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