FCC Holdings reached an effective Chapter 11 liquidation plan, as reported in the May 11, 2015 effectiveness notice Dkt. 510. The case moved into plan implementation, with the July 21, 2015 final decree Dkt. 572 closing subsidiary cases.

FCC Holdings reached an effective orderly liquidation plan in 2015. The court's confirmation order Dkt. 464 entered March 18, 2015 approved the First Amended Joint Plan of Orderly Liquidation, and the notice filed May 11, 2015 Dkt. 510 reported the plan's effectiveness. The subsequent July 21, 2015 final decree Dkt. 572 closed the subsidiary cases, following the transition to liquidation-plan implementation.

FCC Holdings filed its Chapter 11 petition Dkt. 1 on August 25, 2014. The education group operated 41 campuses serving approximately 10,000 students. In his first-day declaration Dkt. 13, interim CEO and chief restructuring officer Sean Harding traced the liquidity crisis to losses at Anthem Education following its 2012 acquisition and problems integrating student-information and financial-aid systems. He reported that a March 2014 Department of Education demand to reconcile an approximately $12 million imbalance forced the company to stop drawing Title IV funding, which accounted for nearly 90% of revenue.

The restructuring centered on campus transfers and a wind-down. Harding's declaration Dkt. 13 described a staged transaction intended to preserve 28 campuses, education for approximately 8,150 students, and roughly 1,500 jobs. He reported that the initial FCC Schools sale had closed on August 21, 2014, while further Anthem Education and US Colleges transfers required Department of Education approval. The court's September 22, 2014 sale order Dkt. 166 approved the asset purchase agreement and authorized sales of certain assets free and clear of liens, claims, encumbrances and interests, together with contract and lease assignments. The December 19, 2014 final cash-collateral order Dkt. 309 authorized cash use for case administration, operations at the Other Acquired Campuses, and budgeted expenses, supporting the process that culminated in the liquidation plan.

FCC Holdings reached an effective Chapter 11 liquidation plan, as reported in the May 11, 2015 effectiveness notice Dkt. 510. The case moved into plan implementation, with the July 21, 2015 final decree Dkt. 572 closing subsidiary cases.

FCC Holdings reached an effective orderly liquidation plan in 2015. The court's confirmation order Dkt. 464 entered March 18, 2015 approved the First Amended Joint Plan of Orderly Liquidation, and the notice filed May 11, 2015 Dkt. 510 reported the plan's effectiveness. The subsequent July 21, 2015 final decree Dkt. 572 closed the subsidiary cases, following the transition to liquidation-plan implementation.

FCC Holdings filed its Chapter 11 petition Dkt. 1 on August 25, 2014. The education group operated 41 campuses serving approximately 10,000 students. In his first-day declaration Dkt. 13, interim CEO and chief restructuring officer Sean Harding traced the liquidity crisis to losses at Anthem Education following its 2012 acquisition and problems integrating student-information and financial-aid systems. He reported that a March 2014 Department of Education demand to reconcile an approximately $12 million imbalance forced the company to stop drawing Title IV funding, which accounted for nearly 90% of revenue.

The restructuring centered on campus transfers and a wind-down. Harding's declaration Dkt. 13 described a staged transaction intended to preserve 28 campuses, education for approximately 8,150 students, and roughly 1,500 jobs. He reported that the initial FCC Schools sale had closed on August 21, 2014, while further Anthem Education and US Colleges transfers required Department of Education approval. The court's September 22, 2014 sale order Dkt. 166 approved the asset purchase agreement and authorized sales of certain assets free and clear of liens, claims, encumbrances and interests, together with contract and lease assignments. The December 19, 2014 final cash-collateral order Dkt. 309 authorized cash use for case administration, operations at the Other Acquired Campuses, and budgeted expenses, supporting the process that culminated in the liquidation plan.