Judson College, which closed its doors in 2021, has filed for Chapter 11 bankruptcy as part of a settlement with its creditors. On January 8, 2024, the former women’s college submitted a Chapter 11 plan to the federal court in the Southern District of Alabama, with the endorsement of all bank creditors and over 60% of bondholders, said President Daphne Robinson in an email to alumnae this week.
Robinson expressed the college’s intentions, stating, “The Board of Trustees and Judson College are pleased to announce that Judson College has reached a settlement with its key creditors.”
The Chapter 11 plan is a significant step towards fulfilling the college’s financial responsibilities and is pending court approval, anticipated by the end of March. This follows the college’s move last year to utilize Alabama law to access its endowment funds to settle its debts and the transfer of its campus to the Judson College Foundation.
Robinson also acknowledged the support from the college’s wider community: “We appreciate all the prayers and support of the alumnae, former staff, friends of the College, and Alabama Baptists,” she said, emphasizing the administration’s dedication to resolving the college’s debts in acknowledgment of the creditors’ role in sustaining Judson’s educational mission.
The College’s bankruptcy court filings are many pages long. The Herald has obtained copies of these filings, and will report further on their contents over the coming weeks.
