“If the University President determines, in his or her sole discretion, that conditions or circumstances exist that the Academy Board (i) has placed the health or safety of Academy staff and/or students at risk; (ii) is not properly exercising its fiduciary obligations to protect and preserve the Academy’s public funds and property; or (iii) has willfully or intentionally violated this Contract or Applicable Law, the University President may immediately appoint a receiver to act in the place of the Academy Board and/or its Educational Service Provider until the revocation proceedings set forth in Section 10.4 are completed.
Unless otherwise specified in the appointment and intent to revoke notice, the receiver shall have full decision-making authority at the Academy on the date on which the appointment and intent to revoke notice is issued. A copy of the notice, setting forth the grounds for the appointment of a receiver and for revocation, shall be sent to the Academy Board and to the Hearing Panel, if applicable. If this subsection is implemented, the notice and hearing procedures set forth in Section 10.4 shall be expedited as much as possible.”
Would lying to a federal criminal investigator, and denying the fact that Steven Ingersoll had admitted to Grand Traverse Academy board officials on May 20, 2013 that he owed the school at least $3.5 million qualify as not 'properly exercising fiduciary responsibility'?
A reasonable person would agree, I suspect.
Coming later today, more shocking information revealing the concerted effort GTA board members undertook to protect Steven Ingersoll, repeatedly denying to federal investigators any awareness of Ingersoll's massive debt to the school.
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Later today!
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Unless otherwise specified in the appointment and intent to revoke notice, the receiver shall have full decision-making authority at the Academy on the date on which the appointment and intent to revoke notice is issued. A copy of the notice, setting forth the grounds for the appointment of a receiver and for revocation, shall be sent to the Academy Board and to the Hearing Panel, if applicable. If this subsection is implemented, the notice and hearing procedures set forth in Section 10.4 shall be expedited as much as possible.”
Grand Traverse Academy charter contract
Lake Superior State University
Would lying to a federal criminal investigator, and denying the fact that Steven Ingersoll had admitted to Grand Traverse Academy board officials on May 20, 2013 that he owed the school at least $3.5 million qualify as not 'properly exercising fiduciary responsibility'?
A reasonable person would agree, I suspect.
Coming later today, more shocking information revealing the concerted effort GTA board members undertook to protect Steven Ingersoll, repeatedly denying to federal investigators any awareness of Ingersoll's massive debt to the school.
Later today!
