Confidential Client

Regionally accredited online for-profit university.

A CMA Managing Director acted as advisor to Lenders’ counsel.

Retained as advisor to Lenders’ Counsel (Weil Gotshal) in connection with certain actions taken by the Texas Workforce Commission and the Accrediting Council of Independent Colleges and Schools (ACICS).
Advised Senior and Mezzanine lender group’s counsel (Weil) and counsel to the Special Committee Steering Group (Strook) on challenges associated with declarations of default, changes of ownership, foreclosure alternatives and other matters pertaining to ensuring continuity of Title IV operations under the Higher Education Act.
Advised on Administrative Capability of institution to manage under Heightened Cash Monitoring 2 (HCM2) when imposed by the Department of Education, Washington, D.C. throughout all regions, (Texas, Florida, Oklahoma, Arizona).
Advised lenders in connection with $70M of credit facilities made available by lending group to support the institution during transition to HCM2.
Provided operating plan for financial aid administration and other key matters to Chief Restructuring Officer appointed by the Board of Directors to ensure smooth transition of management.