The US Bankruptcy Court gave an order approving the sale of certain assets of ITT Educational Services Inc. on October 25, 2017. The trustee has been authorized to sell debtor's certain assets to Southern New Hampshire University and Mr. Liu for a purchase price of $0.41 million and $11.60 million, respectively. The trustee has been authorized to sell certain real estate including Tracts 5-8 located in Nashua, New Hampshire to Southern New Hampshire University and Tracts 1-4 located in Nashua, New Hampshire to Mr. Liu. As per the asset purchase agreement dated October 24, 2017, Southern New Hampshire University has made a deposit in the amount of $0.04 million, in connection with sale of Tracts 5-8. At the auction held on October 23, 2017 in connection with Tracts 1-4, Mr. Liu emerged as the winning bidder by offering a purchase price of $11.60 million. 100% Recovery is designated as the backup bidder for a purchase price of $11.50 million. Mr. Liu has made an initial earnest deposit of $0.67 million. As per the asset purchase agreement dated October 23, 2017, Mr. Liu has made a deposit in the amount of $1.16 million.