Morris Brown College back in bankruptcy court - CBS46 News

Morris Brown College back in bankruptcy court

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ATLANTA (CBS ATLANTA) -

Chuck Barlow said he is feeling pretty good recently. He said the future of his alma mater, the troubled Morris Brown College, is looking a lot better after a hearing in federal bankruptcy court that freed up some badly needed money.

"Morris Brown has a good plan in place to be able emerge from bankruptcy and to be strong again," said Barlow.

The college, founded in 1881 by freed slaves, has a proud and distinguished history, producing some of the nation's best and brightest graduates. The school filed for bankruptcy in 2012 about a decade after a financial mismanagement scandal came to light involving a past president.

Since then, it's been fighting to stay open.

"Morris Brown has a 132-year history. You can isolate the financial problem to two or three of those. So do you throw away 128 years worth of history because of mismanagement by PHD's and people that should have known better?" asked Derrick Boazman, a Morris Brown graduate. "A few years ago we asked, should we save Chrysler? Should we save the banks? Should we save Wells Fargo, so if we can save those institutions, we should say Morris Brown is too big to fail. Its aim, its mission are too big to fail."

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