Monday, May 27, 2019
Above the Law, Western State College Of Law Has A Potential Buyer:
Western State College of Law in California may have a long-term future despite the school recently submitting teach-out plans to the American Bar Association.
Westcliff University, which is also located in the Orange County city of Irvine, has signed a letter of intent to purchase the law school, according to Western State alumnus Bill Shapiro.
Shapiro cautioned that the purchase still needs approval from multiple entities, including the ABA and the U.S. Department of Education, but said he was hopeful it would ultimately be finalized. ...
[T]he school also recently submitted two different teach-out plans to the ABA. The law school regulator announced approval of both plans on Thursday.
The ABA said Plan A calls for Western State to operate as an ABA-approved law school in teach-out mode while financed by “an institution of higher education approved by the Western Association of Schools and Colleges,” which refers to Westcliff University.
“That institution plans to file an application for acquiescence to acquire the law school,” the ABA said. “If the acquisition is successful, the law school will continue in existence as an ongoing enterprise; if the acquisition is unsuccessful, the institution would continue to finance the law school operating in teach-out mode with the final closure occurring in December 2022.”
Prior TaxProf Blog coverage: