Bankrupt Mid-Continent University plans to sell campus
MAYFIELD, Ky. (AP) — Leaders of the bankrupt and shuttered Mid-Continent University plan to put the campus up for sale.
The Paducah Sun reports (http://bit.ly/1QGlA9F ) the university’s attorney Mark Whitlow told a judge in bankruptcy court on Thursday that the university intends to list the property for sale.
The campus, which is located north of Mayfield, includes the university’s academic and dormitory buildings.
The university’s vice president of finance and administration Tim Walker says the school’s board will need to vote to put the campus on the market at a meeting on Tuesday.
The university, which closed one year ago, owes around 300 creditors and has previous faculty and staff members to which it owes payments for the 2013-14 school year.
School leaders plan to repay those debts by collecting payments on student debts.
Information from: The Paducah Sun, http://www.paducahsun.com
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