Court approves pre-holiday payment for Lon Morris College Employ - WSFA.com Montgomery Alabama news.

Court approves pre-holiday payment for Lon Morris College Employees

Posted: Updated:
  • More newsMore>>

  • Study: 35 percent in US facing debt collectors

    Study: 35 percent in US facing debt collectors

    Tuesday, July 29 2014 1:25 AM EDT2014-07-29 05:25:07 GMT
    More than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute.More >>
    More than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute.More >>
  • Teacher hit by train expected to make full recovery

    Teacher hit by train expected to make full recovery

    Tuesday, July 29 2014 2:53 AM EDT2014-07-29 06:53:07 GMT
    Officials at the Smiths Station Fire Department say the victim, later identified as Vivian Martin, was transported to Midtown Medical Center with what appeared to be non life-threatening injuries.More >>
    Multiple sources tell News Leader 9 that a Smiths Station teacher was hit by a train earlier today in Lee County.

    Officials at the Smiths Station Fire Department say the victim, later identified as Vivian Martin, was transported to Midtown Medical Center with what appeared to be non life-threatening injuries.
    More >>
  • Foul play not ruled out in fatal Wilcox County blaze

    Foul play not ruled out in fatal Wilcox Co. blaze

    Tuesday, July 29 2014 12:23 AM EDT2014-07-29 04:23:03 GMT
    Mable Davis could do nothing but watch as flames devoured the home across the street, where her sister, Patricia Nickelson had been staying with her long time boyfriend. He got out of the burning houseMore >>
    Multiple calls and email to the WSFA 12 Newsroom took our news crews to the town of Camden. Two recent deadly fires there have many in the community on edge. The families of the victims want answers.  Are the fires related?  Do authorities suspect arson? WSFA took their questions to county and state officials.
    More >>
JACKSONVILLE, TX (KLTV) -

Released by Androvett Legal Media & Marketing:

TYLER, TX – A Texas federal judge has approved a pre-holiday distribution of $130,000 for more than 100 former employees of Lon Morris College who were unpaid for their final weeks of work when the school filed for bankruptcy protection earlier this year.

In a ruling announced today during a courtroom hearing in Tyler, the Hon. Bill Parker of the U.S. Bankruptcy Court for the Eastern District of Texas approved the payment for former employees requested by estate chief restructuring officer Dawn Ragan of Bridgepoint Consulting in Dallas.

The bankruptcy estate is represented by Houston lawyer Hugh Ray III of McKool Smith. The 158-year-old Methodist college, Texas' oldest junior college, filed for bankruptcy protection in July.

"We are extremely pleased that the court is allowing this deserving group of former Lon Morris College employees to receive a paycheck before the holidays," says Ms. Ragan, who negotiated the payment with representatives from the Nashville-based United Methodist Higher Education Foundation. "We are working hard to increase the estate's value and make sure that every employee receives all the wages they're owed. This is a positive step in the right direction."

Ms. Ragan says the $130,000 will be distributed to 138 former Lon Morris College employees beginning tomorrow.

A day before approving the payment for former employees, Judge Parker also approved the remainder of a $500,000 loan requested in early December by Ms. Ragan and Mr. Ray to help complete the bankruptcy process.

A scheduled auction of Lon Morris assets is set for Jan. 14 in Dallas. The auction will include approximately 50,000 square feet of academic lecture halls, dormitory buildings, a technology center, a gymnasium, and fields for football, baseball and other sports. A detailed auction listing is online at http://www.ameribid.com/upcoming-auctions/auction-detail/?id=192730. Tulsa, Oklahoma-based AmeriBid is coordinating the auction based on prior approval by the bankruptcy court.

For more information, please contact Bruce Vincent at 800-559-4534 or 214-728-6747 or bruce@androvett.com.

Powered by WorldNow