Unless things have changed recently, my understanding was that the majority shareholder in WAC became some variant of Cabair circa 2006ish, with Shari Peyami - already MD, staying in post with a significant minority shareholding in WAC himself. I don't know what SP's engagement with the rest of Cabair has been - but there must have been some.
However, WAC has always continued to be run as a separate and largely independent business from the rest of Cabair, and it's always been profitable. Offering my best guess, the receivers/administrators would be daft to let this successful business get dragged down by the rest of Cabair and are leaving it well alone, presumably that majority holding being the most valuable saleable asset remaining within the group.
What does surprise me is that there's been no talk of using WAC to finish off the existing Cabair students - even if they would be moved from Integrated to Module, it surely would be possible. Then again, maybe that talk's happened, just not made it outside of Cabair.
Regardless, and with the usual caveat of "don't pay up front what you can't afford to lose", I'd still regard WAC as a good place to train.
G