Story thread · 2 reports / 2 sources

Aspira to let judge decide what happens to money from sale of taxpayer-funded school, following WBEZ report

wbez.org · 13dShare

After Aspira of Illinois declared bankruptcy in June, the nonprofit listed a building constructed with $27 million in taxpayer funds that housed one of its closed charter schools. In court records, the nonprofit indicated that it planned to use money from the sale to pay off debt and continue operating with whatever was left. But last week, an attorney for the nonprofit told a judge that Aspira will, instead, put money from the sale aside and wait on the court to decide where it should go. Exactly how much money Aspira could walk away with is unclear: Chicago Public Schools sent an attorney to the hearing on the sale of the property, indicating that the school district is ready to make a case that it should get some, if not all, of the remaining money. These latest developments in Aspira’s bankruptcy case come after WBEZ and the Chicago Sun-Times published an article questioning whether Aspira could pocket money from the sale. What happens in this case could set a precedent for what ha

First report: Aspira to let judge decide what happens to money from sale of taxpayer-funded school, following WBEZ report — suntimes.com, 13d