TYLER (TYLER MORNING TELEGRAPH) - The auction of Lon Morris College will not take place next week as originally scheduled.
The sale of the 112-acre campus in Jacksonville has been pushed back until next month.
Danny Mogle from our news partners at the Tyler paper joins us with the update.
Danny it looked like everything was set to go. Why the delay?
The delay comes as a response to an objection filed by the Texas Attorney General's office.
The AG office raised two concerns.
The first being that the auction was happening too fast and that some potential buyers may not even know that this substantial amount of real estate and assets were even up for sale.
And secondly the state wanted extra time to make sure that Lon Morris College was the clear and undisputed owner of everything that was being put up for sale.
What is the new date for the auction?
A judge has set the new date for Jan. 14.
Lon Morris needs the money from this auction to pay off creditors after going bankrupt earlier this year.
YOU CAN FIND OUT MORE ABOUT THE AUCTION ON OUR WEBSITES, CBS19 DOT TV AND TYLER PAPER DOT COM.