Former Mid-Continent board trustee objects to bankruptcy motion
Mid-Continent university continues to settle their Chapter 11 bankruptcy filing. The judge delayed a decision on a motion for the university to sell equipment from their baseball field until next month. The judge delayed the decision partly because a former Mid-Continent board trustee, Gale Hawkins objected to the motion in court, but he says the equipment sales take a backseat to his concern for students.
It’s expenses outlined in the Mid-Continent monthly operating report for October of this year he says illustrate a big problem. Payroll expenses for the university’s CFO, Tim Walker, are more than $8,000 a month, which adds up to more than $99,000 a year.
Hawkins said he saw the trouble at Mid-Continent from the beginning, and this motion was his open door to speak in the courtroom about his concerns. He says he’s hearing from students who are filing Chapter 7 bankruptcy because of Mid-Continent loans. Hawkins told me Walker should be less concerned about his salary, and more concerned about the unfair loans students are being forced to pay back.
He says, "if we can get some light to shine on the fact that the students are still at a disadvantage; Tim Walker has credit collectors calling and hounding the students."
In regards to the motion to sell the ball field equipment, Hawkins said the court needs to consider better options like letting Graves County buy or have the items. Hawkins does plan to appear in bankrupty court again next month to voice his concerns about the field and the students. He was able to speak in court on the docket because the motion was about equipment on Graves County land, and Hawkins filed as a concerned Graves County citizen.
Mid-Continent’s next bankruptcy hearing will be January 21st.