8/28/13: Owners announce intention to transfer ownership to The InfiLaw System
Release Date: 8/28/2013
FOR IMMEDIATE RELEASE: Wednesday, Aug. 28, 2013
CONTACT: Andy Brack at 843.670.3996 or firstname.lastname@example.org
Charleston School of Law owners announce intention
to transfer ownership to The InfiLaw System
Would become effective upon CHE and ABA approval
CHARLESTON, S.C., Aug. 28, 2013 – The founders and directors of the Charleston School of Law announced today that they have signed an agreement expressing their intent to transfer ownership of the law school to The InfiLaw System (“InfiLaw”), which would become effective if approved by the South Carolina Commission on Higher Education (CHE) and the American Bar Association. Such approval is expected to take months to complete.
“We made this decision because a majority of the founders had expressed a desire to pull back and retire, Robert S. Carr and George C. Kosko said in a joint statement. They are directors and founders of the Charleston School of Law. “As a result, this transaction is part of a necessary succession plan that ensures that the Charleston School of Law will be viable and thrive over the long term.”
They continued, “One of the key reasons we chose to move forward with InfiLaw is because it is committed to maintaining the best of the Charleston School of Law, including our culture and vision, while at the same time bringing its strengths, including investment in the law school in terms of systems, programs and infrastructure, as well as a demonstrated commitment to public service.”
“We want everyone to understand that until a transition to new ownership is complete, the directors will continue to own and operate the law school,” Carr said. Moving to clear up a public misperception, Carr stated that InfiLaw Management Solutions, a subsidiary of InfiLaw, will provide consulting services, but “will not make any operational decisions.”
In an announcement to students, faculty, staff and alumni, the directors also indicated that they are willing to consider well thought-out and financially-viable alternative offers from accredited South Carolina non-profit colleges and universities and local Charleston community non-profit entities with a serious interest, a comprehensive proposal and the financial strength to execute it. They further established a process by which offers could be submitted to their lawyer, Edward Hughes at Nexsen Pruett, LLC, 400 Main Street Office Campus, Suite 100A, Hilton Head Island, SC 29925-3526; (843) 689-6277; email@example.com.
Carr pointed out that the decision to transfer ownership was not made in haste, but had been in the planning stages for quite a while. However, due to the complexity of such a transfer under any circumstances it took some time to find a viable succession plan.
They also acknowledged the public speculation that the law school should be sold to a private or public institution. However, they pointed out that they have not been approached by any public institution interested in buying the Charleston School of Law and noted that private institutions that they contacted elected not to engage in substantive discussions. They also acknowledged that they looked at other options, such as becoming a non-profit institution and a sale to a current owner, but pointed out that none of the options would have done as much protect the interests of the law school for the foreseeable future as the InfiLaw transaction.
“As this process moves forward, we will continue to keep all interested parties informed of developments regarding this transaction,” Carr concluded.
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About the Charleston School of Law
The Charleston School of Law offers students the unique opportunity to study the time-honored practice of law amid the beauty and grace of one of the South's most historic cities, Charleston, South Carolina. Students at the Charleston School of Law study law as a profession and find a faculty focused on using the law as a calling in the public interest. Faculty members devote their full attention to excellent teaching and scholarship, both in and out of the classroom. Where traditions meet opportunity -- that is Charleston and the Charleston School of Law.
About The InfiLaw System
Our mission is to establish the benchmark of inclusive excellence in professional education for the 21st Century. This mission is grounded in three pillars that include serving the underserved, providing a student-outcome centered education and graduating students who are practice ready. Achievement of our mission is a function of outcome excellence, process strength, innovation, humility-based leadership, and a culture centered upon personal authenticity, accountability and commitment to results and the greater good.