Online Education Group 2U Gets Interim OK For Ch. 11 Loan

By Ben Zigterman · July 26, 2024, 6:24 PM EDT

Remote learning and accreditation group 2U Inc. received interim approval on Friday to access $60 million of a $64 million debtor-in-possession financing package to fund its Chapter 11 case....

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Bankruptcy Scorecard

Summary

2U, an education technology group that helps universities run online degree programs, filed for bankruptcy with plans to go private and eliminate $486 million from its balance sheet through a debt-for-equity swap.

Case Number

24-bk-11279

Judge

Brendan L. Shannon

Venue

U.S. Bankruptcy Court for the Southern District of New York

Capital Structure

Total Liabilities:

$944.8 million

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Related Sections

Case Information

Case Title

2U, Inc.

Case Number

1:24-bk-11279

Court

New York Southern

Nature of Suit

Date Filed

July 25, 2024

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