Corinthian Colleges, Inc.

Corinthian Colleges is now in a long-tail post-liquidation claims-administration posture, with the latest docket activity consisting of a judge reassignment, counsel withdrawals, and the distribution trustee’s withdrawal of several filed claims rather than new operating or sale activity. The case was reassigned to Judge Thomas M. Horan in April 2026, replacing Judge John T. Dorsey, and subsequent filings show parties exiting service lists and the trustee continuing residual claims cleanup, including the withdrawal without prejudice of Claim Nos. 2354, 2426, and 2822 while leaving another related claim outstanding under the Withdrawal of ClaimDkt. 2087.

The Chapter 11 began on May 4, 2015, after Corinthian’s education business had already been substantially dismantled. The debtor filed its Chapter 11 Voluntary PetitionDkt. 1 following a liquidity and regulatory collapse described by its CRO: Corinthian depended heavily on federal Title IV student-aid funding, and the Department of Education’s 2014 funding restrictions forced an operating agreement, school teach-outs, and a sale process before the filing. By the petition date, the company had closed its remaining 29 schools after the Department imposed a $30 million fine against the Heald schools and barred new enrollments, leaving the estate to manage shutdown obligations, audits, remaining assets, and creditor recoveries through Chapter 11.

The early case was shaped by a controlled wind-down rather than a going-concern reorganization. Corinthian entered bankruptcy with approximately $103.3 million of prepetition secured obligations under Bank of America-agented domestic and Canadian ABL facilities, secured by substantially all debtor assets, and sought authority to use cash collateral to fund closing procedures, Title IV audits, employee and payroll-related obligations, and orderly asset sales through the . The factual predicate for that relief was laid out in the , which tied the filing to the Department of Education restrictions, the prior Zenith sale of 56 Everest and WyoTech schools, the Canadian shutdown, and the final closure of the remaining campuses.