The Canadian subsidiary of embattled for-profit education company Corinthian Colleges Inc. has filed for bankruptcy under Canada’s insolvency law after an Ontario education regulator took action against the company’s 14 Canadian campuses, the Wall Street Journal reported today. Everest Colleges Canada Inc. filed for an assignment under the Bankruptcy Insolvency Act on Friday, which is Canada’s bankruptcy law. Duff Phelps Canada Restructuring Inc. will administer the case as trustee, according to an announcement. Until recently, Corinthian’s Canadian operations had been isolated from the chaos that has embroiled the company in the U.S. since last summer. The 14 Everest campuses weren’t linked to the deal with the U.S. Department of Education that required Corinthian to sell or close all of its campuses in the U.S. Then on Feb. 19, the Ontario Ministry of Training, Colleges and Universities suspended Everest’s registration and gave notice that it intends to make that suspension permanent.
