$1M Prize to Deaf Schools in Limbo
This just in…
The Atlanta Journal-Constitution published the article today (Wednesday, January 28, 2009) reporting that the $1 million dollar prize won by Georgia’s State School Superintendent Kathy Cox for charity last summer is in limbo.
In November 17, 2008, Kathy Cox and her husband, John Cox, the homebuilder filed personal bankruptcy citing $3.5 million in debt related mainly to Mr. Cox’s Fayette County homebuilding business.
Kathy Cox hired the investment firm, Fidelity Investments, to create an account for distributing the money to three public schools for blind and deaf students. Fidelity Investments did not want to become involved in the bankruptcy case, and they returned the check to Fox Broadcasting Co. in December.
And…
Lawyers representing the creditors of Kathy Cox and her husband John are considering going after the prize money.
Right now, all three state schools (Georgia Academy for the Blind in Macon; the Georgia School for the Deaf in Cave Spring; and the Atlanta Area School for the Deaf in Clarkston) are hopeful that this situation will be resolved soon, so that the money will be used for the “Go For It Foundation” specifically for the deaf and blind students.
Read articles for more information: School chief’s bankruptcy has $1M prize in limbo
