Thread regarding Dream Center Education Holdings, LLC (DCEH) layoffs

Who holds the DCEH debt?

I missed these details earlier, now added to my article. From court filing:

“Flagler Master Fund SPC Ltd. (“Flagler”) is an investment fund managed by Candlewood Investment Group, LP (“Candlewood”). Flagler is a secured lender under the Defendants’ secured Credit Agreement and a beneficiary of a Second Lien Guaranty and Second Lien Pledge and Security Agreement. U.S. Bank is the administrative agent and collateral agent under the Credit Agreement and a secured party and beneficiary of each of the Second Lien Guaranty and the Second Lien Pledge and Security Agreement. In the aggregate, more than $115 million in secured obligations remain outstanding under the Credit Agreement, the Second Lien Guaranty, and the Second Lien Pledge and Security Agreement.”

Got that?

Flagler Master Fund is incorporated in the sunny Cayman Islands.

https://www.republicreport.org/2019/whos-who-in-devos-dream-center-college-collapse/

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Post ID: @OP+XIfJreP

7 replies (most recent on top)

Just prior to everything moving to the receiver: $750,000 in payouts to:

Chairman of the Board's personal law firm: $350k

SVP HR: $40k (still working at DCEH)

Chief Student Services Officer: $60k (still working at DCEH)

Director, Student Services: $30k

SVP Reg. Affairs/Compliance: $40k Still at DCEH

CTO: $50k

SVP Online Enrollment: $50k

SVP Strategic Initiatives: $60k

Operations Senior Analyst: $50k (still at DCEH)

Students are not getting their stipends, but this is happening the day before the receiver takes control?

Yeah, this actually happened....

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Post ID: @2izo+XIfJreP

There will be no winners when you’re owed 100+ million for these toxic assets. The only winners are the Richardson’s, his family members and long time associates who pilfered the missing 51 million dollars paid out by the DOE. It serves Candelwood right for investing in such criminals who don’t even understand the basics of how to perform a valuation on an asset. Yeah, you got your butts handed to you by another criminal, Mark McEachan. Solid!

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Post ID: @1vyj+XIfJreP

Thank you for working so hard to uncover the truth!

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Post ID: @1bbt+XIfJreP

Are we talking about all this being a credit default swap type of set-up to make losers the winners?

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Post ID: @1pdy+XIfJreP

Complex stuff? No doubt. I need the Clift Notes.

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Post ID: @1xzt+XIfJreP

Says who?

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Post ID: @1pff+XIfJreP

It would be ironic if the debt holder was an Ivy League school's endowment. Hope it's not a teacher's pension fund.

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Post ID: @vig+XIfJreP

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