Georgia State University officials say the school is launching a program to prepare students to provide free bankruptcy counsel in the metro Atlanta area. University spokeswoman Wendy Cromwell said Tuesday that the school's College of Law will launch the Bankruptcy Assistance and Practice Program this fall.
Morris Brown College officials believe they would be able to sell off some property, settle mounting debt and keep most of the campus intact under a $20 million plan submitted to a bankruptcy court. Court papers filed Friday outline the proposed deal, which comes less than a month after college trustees turned down an offer of taxpayer help.
Trustees of Morris Brown College have turned down an offer of nearly $10 million in taxpayer money. Atlanta Mayor Kasim Reed had offered the money that would have eliminated the bankrupt school's $35 million debt and solved its legal problems.
Hostess Brands, LLC has announced plans to re-launch its bakery in Columbus and plans to add about 300 jobs in the area over the next several years. The Georgia Department of Economic Development Tuesday announced the company plans to resume operations this summer.
Court records show that Morris Brown College, which faces possible foreclosure, has not paid some of its employees for three months. The historically black Atlanta college owes workers hundreds of thousands of dollars in back pay from an even longer period.
The health care think tank created by Republican presidential candidate Newt Gingrich has filed for bankruptcy. Records show the Gingrich Group, also known as the Center for Health Transformation, filed for Chapter 7 bankruptcy on Wednesday in federal court in Atlanta.
Unsecured creditors of bankrupt Sea Island Company will get pennies on the dollar for the money they're owed. A federal bankruptcy judge has approved the coastal resort's sale to a four-way partnership of out-of-state investors. The bulk of the company's $212 million sale price will go to secured creditors like banks. Unsecured creditors like retired executives will get just $6 million of the $100 million they're owed.
A bankruptcy judge has approved Sea Island Co.'s plan to sell its luxury resorts, golf courses and private clubs to settle the Georgia company's Chapter 11 case. Judge John S. Dalis noted Sea Island's creditors voted almost unanimously in favor of the $212.4 million sale as he ruled in court Thursday.