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Lon Morris Auction May Not Happen as Scheduled

Posted/updated on: December 5, 2012 at 12:27 pm

JACKSONVILLE ó Thereís no guarantee that the auction of Lon Morris College will take place later this month. KETK and the Jacksonville Daily Progress report that Texas Attorney General Greg Abbott is intervening in the schoolís bankruptcy proceedings. Court documents say itís to protect charitable endowments and ensure a level playing field for unsecured creditors trying to get their money. Abbott is attempting to block a half-million dollar loan the college bankruptcy estate is seeking. The school says itís to pay staff and maintain the campus through the conclusion of that impending auction and sale, scheduled for December 13.


Lon Morris Auction May Not Happen as Scheduled

Posted/updated on: December 5, 2012 at 12:27 pm

JACKSONVILLE ó Thereís no guarantee that the auction of Lon Morris College will take place later this month. KETK and the Jacksonville Daily Progress report that Texas Attorney General Greg Abbott is intervening in the schoolís bankruptcy proceedings. Court documents say itís to protect charitable endowments and ensure a level playing field for unsecured creditors trying to get their money. Abbott is attempting to block a half-million dollar loan the college bankruptcy estate is seeking. The school says itís to pay staff and maintain the campus through the conclusion of that impending auction and sale, scheduled for December 13.


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