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Furious teachers at a recently shuttered Detroit charter school were notified Wednesday that they won't be paid thousands of dollars they earned during the last school year.
"Last Friday, Matchbook Learning became aware that the holders of MTA's outstanding bond debt are refusing to allow use of funds for any summer payroll and instead, are requiring that any available funds be used toward payment of the bond debt," Matchbook's CEO Sajan George told teachers in the email. "We are disappointed and deeply saddened by this development because this means funds will not be there for July or August payroll."
Source Chalkbeat
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Charter School Bond Holders Refuse to Allow Use of Funds for Payroll
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While most peoples' opinions change, the conviction of their
correctness never does.
(Score: 2) by Osamabobama on Friday July 28 2017, @06:29PM
Companies could be structured to siphon off revenue to the management via salary. There's a loophole for everything...
It's probably best to put the whole mess in front of a judge.
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