Georgia College Housing Unit Moves for Mediator in Bankruptcy

Student housing company Corvias Campus Living – USG LLC asked a bankruptcy court to appoint a mediator to help resolve disputes with the Board of Regents for the University System of Georgia and secured noteholders.

Out-of-court negotiations with the board and holders of more than $526 million in outstanding secured notes have been unsuccessful, Corvias said in its Wednesday request in the US Bankruptcy Court for the District of Delaware. The company’s parent, Corvias Group LLC, isn’t in bankruptcy.

The late June bankruptcy filing came in part due to “the continued deterioration of the program’s financial position” and lack of ...