However, its application for a judicial review to overturn the report was refused in a judgment on Friday and Ofsted confirmed the as-yet unpublished report would be released on Thursday. According to reports in the trade newspaper FE Week, which was in court, Learndirect – the UK’s largest vocational training provider – was awarded grade fours for its apprenticeships and outcomes for learners. Details of the case emerged when the court lifted reporting restrictions on Monday after refusing Learndirect permission to appeal. At the same time, Learndirect’s parent companies, Pimco (Holdings) and Pimco 2909 paid out tens of millions of pounds in management fees, dividends and interest payments. LDC is the private equity arm of Lloyds and is the ultimate owner of Pimco (Holdings) and Pimco 2909.

Source: The Guardian August 14, 2017 19:07 UTC