The state-backed nonprofit that operates the Freedom Schooner Amistad will be overseen by a receiver, state officials announced.
Attorney General George Jepsen asked the Superior Court to approve a receiver for the organization after an audit revealed that the Amistad had depleted its endowment.
“The Amistad is an important piece of Connecticut’s history and cultural heritage,” Jepsen said in a statement. “Today’s action puts in place a professional and experienced receiver who will ensure that, over the coming months, the organization’s finances are handled correctly and that existing obligations are addressed.”
The court’s order prevents the existing leadership of Amistad America from taking actions on behalf of the corporation during the term of the receivership.
It also prohibits the organization’s creditors from taking action to collect on debts without obtaining court approval.
Amistad’s board endorsed the appointment of a receiver, Jepsen said.
