MINNEAPOLIS (WCCO) – Globe University has filed for chapter 11 bankruptcy protections.
The defunct for-profit school filed the petition Wednesday, saying it owes between to $10 million and $50 million to thousands of creditors, including many former students.
The school says it has between $100,000 and $500,000 in assets.
In 2014, Globe University and its affiliate, Minnesota School of Business, were sued by the State of Minnesota. The state was working on behalf of students who said that the schools’ law enforcement programs were fraudulent and effectively worthless in Minnesota.
Amid the litigation process, Globe University and Minnesota School of Business closed their campuses.
Earlier this year, they were ordered to repay the students involved in the lawsuit.