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Posted: 11:19 AM Aug 20, 2010
Bankrupt WV Private School Settles with Bank
MORGANTOWN, W.Va. (AP) A private school in Monongalia County that faced closure after filing for bankrupcty has settled with a bank and will begin a new academic year Monday.
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A private school in Monongalia County that faced closure after filing for bankrupcty has settled with a bank and will begin a new academic year Monday.
Trinity Christian School in Sabraton announced the settlement with Fifth Third Bank Thursday. Details weren't released.
Trinity filed for Chapter 11 bankruptcy last October. A Fifth Third Bank official had said the school owed $8.8 million on its mortgage and the property would be sold.
Trinity Board of Directors chairman Bill Post says the school has dramatically reduced its debt with tuition payments and contributions from businesses and individuals.
©2010 The Associated Press. All rights reserved.
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