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ATLANTA (AP) — Morris Brown College has gotten a court's approval to sell some of the property on its Atlanta campus.
The Atlanta Journal-Constitution reports (http://bit.ly/1hTOX4w) that the school got the bankruptcy court's approval Thursday to market and sell its property through a real estate broker.
The college intends to sell much of its 36-acre campus, and has already begun marketing the property. Facing about $30 million in debt, the cash-strapped historically black institution filed for bankruptcy in August 2012.
The proposed sale of most of the campus property comes after two failed partial property sales fell through.
Whatever the outcome of the planned property sale, Morris Brown intends to continue operations.
Information from: The Atlanta Journal-Constitution, http://www.ajc.com
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