Urdan, of Wells Fargo Securities, predicted "fire sale prices" for most of the schools. To generate cash in recent years, Corinthian has already sold off most of the campus buildings and converted them to lease arrangements, meaning the value of the schools will be the staff and associated brands.
"What you're left with is going to be something called Corinthian Colleges that has a bunch of cash and a bunch of liabilities," Urdan said. "It will basically be an entity set up to defend its business practices against lawsuits."