Alabama judge’s dismissal of lawsuit threatens future of Birmingham-Southern College
An Alabama judge dismissed Birmingham-Southern College’s lawsuit against the state treasurer over a loan denial on Wednesday, a decision that could put the future of the 167-year-old private college in jeopardy.
Birmingham-Southern College filed a lawsuit last week against state Treasurer Young Boozer, saying Boozer wrongly denied a $30 million loan from a program created by lawmakers to provide a financial lifeline to the college.
“Our good faith was betrayed over the several months of working with Treasurer Boozer to deliver this bridge loan to the college,” Coleman said.
The Alabama Legislature created the Alabama Distressed Institutions of Higher Education Revolving Loan Program this year after Birmingham-Southern officials, alumni and supporters lobbied for money to help the college stay open.
Supporters of the loan legislation said it was a way to provide bridge funding while the college worked to shore up its finances.
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See full news at: https://www.foxnews.com/us/alabama-judges-dismissal-lawsuit-threatens-future-birmingham-southern-college
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