Nov 10th update: According to someone attesting to inside knowledge, today's hearing did not result in a settlement.
"My understanding is that the bondholders and Wells Fargo have not been able to agree on a budget, and that they will now have a hearing in front of the court on 11/25."
Also, a Windrush family reported that the 2nd grade was down to 6 students (from 15) and that they had recently received a call from two staff members asking how that family would feel if classrooms (different grades) were combined into one class. (Nov 14th update: down to 3)
Nov 7th update: Financially threatened peer school Windrush has been operating under the expectation that it will remain open for the remainder of the year under the financial oversight of Wells Fargo. But despite expectations, a final settlement agreement between Windrush School and its creditors represented by Wells Fargo was NOT completed last week. The school had announced the signing would occur Nov. 2. There was another court hearing scheduled for Nov 10th... <more>
Nov 1st: From Windrush:
"On Oct. 28, a global settlement agreement between Wells Fargo Bank and Windrush School was reached at the bankruptcy court hearing. Windrush expects to sign an agreement with Wells Fargo in New York on Nov. 2. For the remainder of this year, Wells Fargo will hold the school's funds and will turn them over as needed to finance an agreed-upon, revised budget. The Chapter 11 case will be dismissed."
Oct 25th: More difficulties, as reported in the El Cerrito Patch news site:
A bankruptcy hearing Monday revealed that the head of financially threatened Windrush School recently received $69,593 in cashed-out vacation pay, that the school's finance director is leaving and that 11 students have quit the school in the past month (a number of them coming to BPC, maybe 5). <more from the original article>
