Lon Morris Auction May Not Happen as Scheduled
Posted/updated on: December 5, 2012 at 12:27 pm
JACKSONVILLE Theres 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 schools bankruptcy proceedings. Court documents say its 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 its to pay staff and maintain the campus through the conclusion of that impending auction and sale, scheduled for December 13.
