January 07, 2015
A hedge fund suing to protect a $14 million investment in Education Management Corp. will likely not need a second trial to make its case that its debts can't be cut in a $1.5 billion restructuring that the cash-strapped education company expects to execute by mid-2015, its attorney said Wednesday.
January 02, 2015
Education Management Corp. likely violated two hedge funds' rights by undertaking a $1.5 billion out-of-court restructuring that swaps their debt for stock, according to a recent opinion that gives broad effect to the creditor protections of the Trust Indenture Act.
November 17, 2014
An ad hoc committee of lenders to bankrupt college operator Education Management Corp. on Thursday accused two noteholders of trying to stop the company's restructuring process out of a grudge against KKR Credit Advisors, one of EDMC's other lenders.