ChinaCast Settles With Creditors, Ch. 11 Plan OK'd

Law360, New York (December 6, 2017, 4:05 PM EST) -- ChinaCast Education Corp. is on its way out of Chapter 11 proceedings after a New York bankruptcy judge Wednesday approved the company's orderly liquidation plan and a linchpin settlement with a class of shareholders that freed up a path to plan confirmation.

The second attempt was the charm for ChinaCast, a defunct college-level e-learning services provider, which confirmed its Chapter 11 wind-down plan Wednesday, a month after the judge presiding over the case adjourned the debtor’s bid for plan approval due to last-minute requests that required...
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