College Of New Rochelle Files For Chapter 11 After Tax Woes

Law360 (September 20, 2019, 10:58 PM EDT) -- The College of New Rochelle filed for Chapter 11 bankruptcy protection Friday, a little more than a month after it closed its doors, according to a voluntary petition filed in New York bankruptcy court.

The shuttered college has been in the midst of financial woes since 2016, when an internal investigation revealed its former controller had failed to pay payroll taxes for two years and committed fraud, leaving the school with more than $31 million in previously undisclosed debts.

The college said in Friday's petition that it would be selling its 15.6-acre main campus in an auction within two months. It...

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