Judson College is attempting to reach a settlement and satisfy its debts over time with a Chapter 11 plan.
President Daphne Robinson sent a letter saying the Board of Trustees and Judson College want to work with key creditors to resolve all outstanding matters.
"As part of the settlement agreement, the creditors wanted the agreement to be implemented through a Chapter 11 plan," the letter stated. "Accordingly, on January 8, 2024, the College filed a Chapter 11 plan with the federal court in the Southern District of Alabama."
The Chapter 11 plan has been approved by bank creditors and by the majority of bondholders, according to Robinson. The plan will need to be approved by the court. Robinson said she hopes that will be done by the end of March.
"We appreciate all the prayers and support of the alumnae, former staff, friends of the College, and Alabama Baptists," she continued. "It was important to the Board of Trustees and the administration that Judson College satisfy its debts to its creditors as these creditors helped Judson maintain its mission of Christian higher education for women. Please continue to pray for Judson as it navigates through this legal process."
In August 2021, the Board of Trustees voted to close Judson College. For 183 years, the school educated women in a Christ-centered environment in Marion, Alabama.
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