Brown Schools Files for Bankruptcy

May 9, 2005 Brown Schools Files for Bankruptcy  On March 25, 2005, Brown Schools, Inc. and its subsidiary CEDU School, Inc., filed for Chapter 7 liquidation, citing assets of less than ten million dollars and debt between ten million dollars and $50 million. The filing listed over $425,000 in legal settlements among its unsecured claims.  The corporation estimates that after any exempted property is excluded and administrative expenses are paid, there will be no funds available for distribution to unsecured creditors. The petition lists an estimated 16 to 49 creditors. Brown Schools filed for liquidation along with 24 affiliates . . .