A new €3.2m investment has allowed the online educational platform to exit examinership for the second time in three years. But unsecured creditors such as Facebook have taken steep haircuts.
The online learning provider bounced back from the brink, having been tipped into insolvency by a leading London debt fund last year. Examinership was supposed to wipe the slate clean. But now it seems the row has just got personal for the Irish owners of the global platform.
Shaw Academy survived a brush with insolvency exactly one year ago. Since then, it has raised €7m, amassed a stellar board, and, with people confined to their homes as a result of Covid-19, it is reporting significant growth internationally.
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