Assignee for the Benefit of Creditors
- Claims Analysis
B&H EDUCATION INC. D/B/A MARINELLO SCHOOLS OF BEAUTY
- Assignment for the benefit of creditors of a for-profit education provider
- Assignment with the consent of the secured lender group
- Managed the resolution of U.S. Department of Education claim
- Manages continuing requests for transcripts from former students
DSI accepted an assignment for the benefit of creditors of the nationwide chain of for-profit beauty schools. The assignor lost its U.S. Department of Education Title IV funding effectively cutting off the businesses funding source. DSI dealt with the claim of the USDOE arising from the department’s audit of monies advanced to the business. All available monies due to the business from multiple sources were liquidated and the proceeds paid to the secured lender group and in part applied against the USDOE’s priority claim. DSI continues to respond to former students’ requests for transcripts as they try to finish their educational programs with other schools.