Latest news with #StuartEllis
Mint
9 hours ago
- Business
- Mint
Charter Schools Financier Blames Bankruptcy on Spat With Backer
(Bloomberg) -- A major financier of US charter schools filed bankruptcy, blaming pandemic-era subsidies that reduced demand for its services and a dispute with a top stockholder, New York investment firm Orthogon Partners Investment Management. Charter School Capital has provided funding to about one in eight of the 8,000 charter schools in the US, the company said in court papers filed Monday. The company said its struggles go back to 2022 because public schools, including charter schools, accessed federal cash in response to the Covid-19 pandemic. Before the pandemic, CSC did $300 million a year in business through its Money To Run Your School program. In 2024, that number had dropped to $32.6 million, according to court documents. 'Schools generally remain in relatively strong financial condition with limited need for additional funding,' Stuart Ellis, CSC's chief executive officer said in a court filing. CSC said rising interest rates and property values also hurt the company's real estate business, which involved arranging sale and lease-back deals with charter schools. The company said a dispute with Orthogon pushed CSC into bankruptcy after the investment firm won a $3 million arbitration award earlier this month related to a 2024 land sale and refinancing deal. CSC says there were errors with their financial reports, which started the dispute. The company's other top debts include an $8.5 million, real estate loan guarantee and $700,000 in unpaid vendor and lease claims. The company had just $1.3 million in cash when it filed its case on Sunday. The bankruptcy is Charter School Capital, Inc. 25-11016, US Bankruptcy Court, District of Delaware. More stories like this are available on
Yahoo
27-03-2025
- Yahoo
Police officer caught stealing spider
A police officer has been given a written warning for stealing a decorative spider from a suspect's garden. PC Stuart Ellis intended to make an arrest at an address in Brighton on 5 December, but when there was no answer, he took the eight-legged Halloween ornament from the garden instead. His actions were spotted on a doorbell camera and reported to Sussex Police. At a misconduct hearing on 25 and 26 March, the 47-year-old's behaviour was found to be discreditable conduct and a breach of the professional behaviour standards of integrity. He was given a written warning, which will stay on file for 18 months. The panel was chaired by Assistant Chief Constable Peter Gardner. It heard how PC Ellis "was seen to walk over to a Halloween decoration, disconnect a decorative spider, and place it in his pocket". "He then walked away from the garden and towards the police vehicle, having taken the item from the front garden", said Sussex Police in a statement. "The item was later recovered and returned to its owner after they made a complaint to the force." The misconduct hearing also considered the actions of PC Sophie Douglas, 33, who attended the address alongside PC Ellis. The panel found that PC Douglas had no case to answer. Det Spt Andy Wolstenholme, deputy head of professional standards at Sussex Police, said: "Where Sussex Police receives complaints from members of the public about the conduct of our officers, it is right and proper that we investigate." He added the misconduct process meant staff "can account for their actions in an open and transparent process". Follow BBC Sussex on Facebook, X and Instagram. Send your story ideas to southeasttoday@ or WhatsApp us on 08081 002250. Sussex Police
BBC News
27-03-2025
- BBC News
Sussex police officer caught stealing suspect's spider
A police officer has been given a written warning for stealing a decorative spider from a suspect's Stuart Ellis intended to make an arrest at an address in Brighton on 5 December, but when there was no answer, he took the eight-legged Halloween ornament from the garden instead. His actions were spotted on a doorbell camera and reported to Sussex a misconduct hearing on 25 and 26 March, the 47-year-old was found to have breached the professional behaviour standards of integrity and discreditable conduct. He was given a written warning, which will stay on file for 18 months. Written warning The panel was chaired by Assistant Chief Constable Peter heard how PC Ellis "was seen to walk over to a Halloween decoration, disconnect a decorative spider, and place it in his pocket". "He then walked away from the garden and towards the police vehicle, having taken the item from the front garden", said Sussex Police in a statement."The item was later recovered and returned to its owner after they made a complaint to the force."The misconduct hearing also considered the actions of PC Sophie Douglas, 33, who attended the address alongside PC panel found that PC Douglas had no case to Spt Andy Wolstenholme, deputy head of professional standards at Sussex Police, said: "Where Sussex Police receives complaints from members of the public about the conduct of our officers, it is right and proper that we investigate."He added the misconduct process meant staff "can account for their actions in an open and transparent process".
