Judge Approves Restructuring Officer for Saint Augustine's
Malcomb Coley will make decisions for the bankrupt Raleigh university as it prepares a reorganization plan.
Updated on Nov. 11, 2026 in Higher Education
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A federal bankruptcy judge approved Malcomb Coley's appointment as chief restructuring officer for Saint Augustine's University, which filed for Chapter 11 bankruptcy. The court also extended the school's deadline to submit a reorganization plan by 60 days, to January 8, 2027.
Why it matters
Saint Augustine's lost its accreditation at the end of the last school year and is not offering classes this fall. Under the appointment, Coley will make decisions for the university in place of its board during the reorganization process.
The court approved Coley's appointment on Tuesday, giving him authority over decisions within the scope of the Chapter 11 reorganization. The filings did not disclose his compensation, and the bankruptcy administrator said he would work for a fraction of the cost of the arrangement it replaced.
The players
Saint Augustine's University
A historically Black university in Raleigh, North Carolina, that filed for Chapter 11 bankruptcy and lost its accreditation.
Malcomb Coley
A former Saint Augustine's University professor and accounting professional who previously served eight years on the Board of Trustees at Queens University in Charlotte.
Judge David Warren
The bankruptcy judge who approved Coley's appointment and granted the school's deadline extension.
The details
The school's board did not believe the plan it would have proposed was the best path for the university to emerge from bankruptcy and relaunch as an institution of higher education, given its historical significance. Coley, a former Saint Augustine's professor and accounting professional, is expected to weigh options such as exit financing and the sale of certain real and personal property assets. The debtor was prepared to file a plan that would have paid its creditors in full.
Timeline
End of last school year: Saint Augustine's lost its accreditation.
Fall semester: The university is not offering any classes.
Tuesday: Judge David Warren approved Coley's appointment during the bankruptcy hearing.
Jan. 8, 2027: New deadline to submit a formal reorganization plan.
Season Trajectory
Chapter 11 filings by private colleges have typically followed a pattern in which a court-appointed restructuring officer assumes control from the board while the school seeks exit financing or asset sales. Saint Augustine's now follows that model, with the court's extension pushing its reorganization plan deadline to January 8, 2027.
Students and families who had planned to attend Saint Augustine's this fall will need to seek other options, since no classes are being offered. The reorganization process will determine whether the university can reopen as an institution of higher education.
The takeaway
A court-appointed restructuring officer now holds decision-making power at Saint Augustine's, and the outcome of the reorganization will determine whether the historic Raleigh university can return to offering classes.
What happens next
The university must submit a formal reorganization plan to the court by January 8, 2027.
Further reading
For more on the school's situation, see Higher Education coverage in Raleigh.
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