January 6, 2018 / 1:04 AM / 6 months ago

ITT trustee unveils $1.5 billion settlement for former students

The liquidation trustee for ITT Educational Services Inc is seeking court approval to enter into a $1.5 billion settlement with former students who had sued the bankrupt for-profit college operator for alleged violations of consumer protections.

Trustee Deborah Caruso in court papers filed on Wednesday said the deal with the five class representatives will bring ITT’s Chapter 7 bankruptcy case “another step closer to resolution.”

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2qxdvO3

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