[Via the Yomiuri] "Major English conversation school operator Geos Corp. said Wednesday it has started bankruptcy procedures at the Tokyo District Court, which ordered its assets protected from creditors.The Tokyo-based school's total liabilities are said to be 7.5 billion yen.The school operator said it would hand over about 230 of its 330 schools nationwide to Nagoya-based G.communication Co. and shutter the remaining 100.  G.communication also took over the operations of collapsed major English conversation school operator Nova Corp. in 2007.The transfer would allow 29,000 of Geos' 36,800 students to continue studying at their current schools, Geos said. Additionally, about 7,800 students at the locations slated for closure could keep studying if they agree to transfer to nearby Geos schools.However, the school operator said it would be difficult to refund tuition that already has been paid."  Click here for the rest of story.[ad][Via The Japan Times]"G.communication President Hideo Sugimoto said his firm bought part of Geos "to protect students."The company said it will keep the Geos school name and will resume lessons at those schools Friday.Students attending schools that will be closed will not get their tuition refunded, but they can go to classes at other Geos schools or take Geos online lessons with the money they have already paid.They can also go to Nova schools or take Nova online lessons at a 75 percent discount until the accumulated discount reaches the amount they paid in advance, Geos said.The fate of Geos teachers, meanwhile, is uncertain, even though G.communication says it will try to hire them.Geos also runs English schools in the United States, Canada, France, Thailand and other countries. It also teaches other languages, including French, Italian, Spanish, Chinese and Korean, and arranges for Japanese students to study abroad."Click here for the rest of the story.It seems like the folks at Let's Japan saw this one coming![ad#468x60-ad]