NY Governor Candidate Implicated In School Bankruptcy

Law360, New York (January 13, 2006, 12:00 AM EST) -- A now-defunct Kentucky college that owes over $3 million in loans taken out by its former chief executive should not be liquidated, according to a Kentucky bank, because the sale of all the school’s assets would still not be enough to pay back the borrowed money.

The loan, taken out by former Decker College CEO William Weld, a Republican running for governor of New York, was secured with all of the Decker’s assets as collateral.

Decker, a private trade school that had about 3,700 students when...
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