Lon Morris College Employees to Receive Back Pay Under Final Bankruptcy Plan
A Judge in Tyler has confirmed a final bankruptcy plan submitted on behalf of Lon Morris College and their attorneys.
A Judge in Tyler has confirmed a final bankruptcy plan submitted on behalf of Lon Morris College and their attorneys.
The has been a year of financial trouble for Lon Morris College, and because of that, there are 138 employees who are still owed money.
But that could be resolved soon. If all goes according to plan, those employees could get there money just a few days before Christmas.
Citing numerous financial problems, Lon Morris College in Jacksonville filed for Chapter 11 Bankruptcy on Monday in Federal Court in Tyler.
In a statement released today by the Chief Restructuring Officer, the Board of Trustees and their Consulting Advisors have determined it is in the best interest of Lon Morris College to enter into a transaction or agreement with another educational institution.
The athletic department at Lon Morris College has been shut down following a closed door meeting with school executives Tuesday night.