To Declare or Not to Declare [Bankruptcy]: That May Be the Question, A Tale of Bankruptcy in Higher Education
Journal: Education Quarterly Reviews (Vol.3, No. 2)Publication Date: 2020-06-30
Authors : Richard J. Hunter Jr John H. Shannon Henry J. Amoroso Hector R. Lozada;
Page : 170-193
Keywords : Bankruptcy; Reorganization; Examiner; Labor; Automatic Stay; Employment; Title IX;
Abstract
This case study provides the background for a discussion of the bankruptcy of a composite non-profit corporation under Chapter 11 of the Bankruptcy Code, and the possible alternatives available to bankruptcy. Topics considered include: reorganizations, the selection of a bankruptcy trustee or an examiner, duties of a non-profit board, the automatic stay, aspects of the creation and confirmation of the bankruptcy plan, priority of creditors, termination of employment contracts for tenured and non-tenured faculty and those faculty represented by a union, at-will employment, and Title IX implications for any bankruptcy filing. The case study then turns to a discussion of options and perspectives available in the case that bankruptcy under Chapter 11 is not seen as a viable or practical alternative. Could the real target of restructuring and cost cutting be academic tenure?
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Last modified: 2020-05-18 01:12:30