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Full title: Report on ballot tabulation filed by James A Bartholomew. (Ashfield, Phillip) (Entered: 06/22/2021)

Document posted on Jun 21, 2021 in the bankruptcy, 5 pages and 0 tables.

Bankrupt11 Summary (Automatically Generated)

50 against debtor Minnesota School of Business, Inc., which was disallowed by order dated June 8, 2021 as Document No. 497.Billie Edmonds filed Claim No. 71 against debtor Minnesota School of Business, Inc., which was disallowed by order dated May 27, 2021 as Document No. 463.Class 5 is comprised of intercompany claims between Minnesota School of Business, Inc. and Globe University, Inc. (collectively, the “Debtors”), which are the two debtors in these jointly administered cases.Pursuant to the Plan, Class 5 Claims are subordinated to Class 3 Claims (General Unsecured Claims).Regarding non-voters as rejecters runs contrary to the Code's fundamental principle, and the language of section 1126(c), that only those actually voting be counted in determining whether a class has met the requirements, in number and amount, for acceptance or rejection of a plan, and subjects those who care about the case to burdens (or worse) based on the inaction and disinterest of others.

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UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MINNESOTA Jointly Administered Under Case No. 19-33629 (WJF) In re: Minnesota School of Business, Inc., Case No.: 19-33629 Globe University, Inc., Case No.: 19-33632 Chapter 11 Cases Debtors. REPORT OF BALLOT TABULATION
Table 1 on page 1. Back to List of Tables
Class 1 Count # Amount $
Deemed
accepted
Accepting 0 Accepting $0
None Rejecting 0 Rejecting $0
None Percentage Accepting 0% Percentage Accepting 0%
Class 2 Count # Amount $
Deemed
accepted
Accepting 0 Accepting $0
None Rejecting 0 Rejecting $0
None Percentage Accepting 0% Percentage Accepting 0%
Class 3 Count # Amount $
Accepted Accepting 2 Accepting $35,117,415.00
None Rejecting* 0 Rejecting* $0
None Percentage Accepting 100% Percentage Accepting 100%
Class 4 Count # Amount $
Accepted Accepting 5 Accepting $5,392,310.00
None Rejecting 0 Rejecting $0
None Percentage Accepting 100% Percentage Accepting 100%
Class 5 Count # Amount $
Deemed
accepted*
Accepting 0 Accepting $0
None Rejecting 0 Rejecting $0
None Percentage Accepting 0% Percentage Accepting 0%
* See Addendum to Report of Ballot Tabulation None None None None
Pursuant to Local Rule 9011-4 the undersigned authorize the e-filing of this document with their electronic signatures affixed below.

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We certify under penalty of perjury that we have examined the ballots in these cases and the report above is an accurate summary of those ballots to the best of our knowledge, information or belief. As further discussed in the addendum to this Report of Ballot Tabulation, two ballots were not counted in this report. Dated: June 22, 2021 /e/ James C. Brand FREDRIKSON & BYRON, P.A. Clinton E. Cutler (#0158094) James C. Brand (#387362) 200 South Sixth Street Suite 4000 Minneapolis, MN 55402-1425 (612) 492-7000 ATTORNEYS FOR THE DEBTORS /e/ Phillip J. Ashfield STINSON LLP Edwin H. Caldie (#0388930) Phillip J. Ashfield (#0388990) 50 South Sixth Street Suite 2600 Minneapolis, MN 55402 Telephone: 612.335.1500 Facsimile: 612.335.1657 ATTORNEYS FOR THE CHAPTER 11 TRUSTEE

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UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MINNESOTA Jointly Administered Under Case No. 19-33629 (WJF) In re: Minnesota School of Business, Inc., Case No.: 19-33629 Globe University, Inc., Case No.: 19-33632 Chapter 11 Cases Debtors. ADDENDUM TO REPORT OF BALLOT TABULATION I. Unreported ballots. A ballot was filed by each of Kathryn M. Stiehl (Ballot No. 1) and Billie Edmonds (Ballot No. 8), neither of whom hold an allowed claim in these cases. Kathryn M. Stiehl filed Claim No. 50 against debtor Minnesota School of Business, Inc., which was disallowed by order dated June 8, 2021 as Document No. 497. Billie Edmonds filed Claim No. 71 against debtor Minnesota School of Business, Inc., which was disallowed by order dated May 27, 2021 as Document No. 463. Only parties holding allowed claims, or who hold claims that have been temporarily allowed for voting purposes, are permitted to vote. As a result, Ballot No. 1 and Ballot No. 8 were not counted and are not included in the Report of Ballot Tabulation. II. Class where no votes were cast. No votes were cast in Class 5. The case law is divided as to whether non-voting classes are deemed to reject a plan. Class 5 is comprised of intercompany claims between Minnesota School of Business, Inc. and Globe University, Inc. (collectively, the “Debtors”), which are the two debtors in these jointly administered cases. Pursuant to the Plan, Class 5 Claims are

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subordinated to Class 3 Claims (General Unsecured Claims). The Debtors, together with the Chapter 11 Trustee, are proponents of the Plan. Under these circumstances, Class 5 should be deemed to have accepted the Plan. Furthermore, in circumstances where the class is comprised of non-voting claimants who also did not object to confirmation, viewing such inaction as the equivalent of rejection runs contrary to the principals of the Bankruptcy Code: Regarding non-voters as rejecters runs contrary to the Code's fundamental principle, and the language of section 1126(c), that only those actually voting be counted in determining whether a class has met the requirements, in number and amount, for acceptance or rejection of a plan, and subjects those who care about the case to burdens (or worse) based on the inaction and disinterest of others. A holding to the contrary would mean that a failure to vote isn’t relevant in a case where anyone else in that class votes, but is enough to force cramdown if the lack of interest in that class is so extreme that nobody at all chooses to vote, one way or the other. In re Adelphia Comm. Corp., 368 B.R. 140, 261-62 (Bankr. S.D.N.Y. 2007). Applying these principals, the Report of Ballot Tabulation states that Class 5 is deemed to have accepted. Dated: June 22, 2021 /e/ James C. Brand FREDRIKSON & BYRON, P.A. Clinton E. Cutler (#0158094) James C. Brand (#387362) 200 South Sixth Street Suite 4000 Minneapolis, MN 55402-1425 (612) 492-7000 ATTORNEYS FOR THE DEBTORS /e/ Phillip J. Ashfield STINSON LLP Edwin H. Caldie (#0388930) Phillip J. Ashfield (#0388990) 50 South Sixth Street Suite 2600 Minneapolis, MN 55402

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Telephone: 612.335.1500 Facsimile: 612.335.1657 ATTORNEYS FOR THE CHAPTER 11 TRUSTEE 73222994 v1

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