Trending
PHILIPPI -- A Buckhannon real estate, rental and leasing company is seeking to purchase the campus and equipment of bankrupt Alderson Broaddus University for $4.9 million.
A sales hearing on the proposal by DACK Investments is set in U.S. Bankruptcy Court for Jan. 31.
Thomas Fluharty, the bankruptcy trustee appointed by the court to oversee Alderson Broaddus' affairs, filed a motion this week seeking an order to approve the sale of the campus and remaining equipment.
According to the motion, other entities have contacted Fluharty about the school's campus, but DACK Industries has made the only offer.
This week's filing urges the court to approve the sale.
In August, the West Virginia Higher Education Policy Commission voted to revoke Alderson Broaddus' authorization to confer degrees in the state.
The order prevents Alderson Broaddus from conferring any degrees after Dec. 31, and the university is prohibited from enrolling any more students.
Later that week, the Higher Learning Commission announced that "Alderson Broaddus University in Philippi, West Virginia, voluntarily resigned its accreditation with the Higher Learning Commission, effective Dec. 31, 2023, due to its upcoming closure."
Later in August, two class action complaints were filed against Alderson Broaddus University, on behalf of students and faculty at the school.
The complaints were filed Aug. 8 in Kanawha County Circuit Court in Charleston. The defendants in both complaints are listed as Alderson Broaddus University and James Garvin, chair of the AB Board of Trustees and Governors.
The two class action complaints included claims of fraud, misrepresentation and breach of contract.
Alderson Broaddus University filed for bankruptcy Sept. 31 in the United States Bankruptcy Court for the Northern District of West Virginia.
The school's final class of students graduated this month.