Saint Augustine’s Cancels Fall Classes as Crisis Deepens

Saint Augustine’s University will not offer classes this fall as the financially troubled Raleigh, North Carolina institution works to emerge from Chapter 11 bankruptcy.

University leaders confirmed the decision during an August bankruptcy hearing. Saint Augustine’s filed for Chapter 11 in April after facing record-low enrollment, online-only classes, millions of dollars in debt, and the loss of its accreditation, according to WRAL.

The university’s financial management drew criticism from Judge David Warren during an Aug. 26 bankruptcy hearing after he learned that the university previously lacked directors and officers liability insurance.

“I’m just astonished people in fiduciary capacity for a university did not have a D&O policy,” Warren said. “What else is out there that I don’t know about, or the public doesn’t know about?”