Lon Morris taking steps to liquidate assets
POSTED: Wednesday, October 31, 2012 - 10:52am
UPDATED: Wednesday, October 31, 2012 - 10:57am
Jacksonville, TX (KETK) — Lon Morris College is taking steps Wednesday to liquidate their assets.
According to a U.S. Bankruptcy Court spokesman, the school has been approved on an "application to employ" AmeriBid LLC, a company that would be expected to auction off their properties. The order to sell has not yet been approved.
More orders will be issued throughout the day, and a sell approval will most likely be approved by the end of the day. The spokesman tells KETK it is a complicated process that goes in steps.
KETK will bring you more information on this developing story as it becomes available.