Governing Closure: The Board’s Role at the End 

There’s hardly a scenario more painful to trustees than the closure of the institution that has been placed in their fiduciary care. Rather than winding down a trustee’s responsibilities, however, closures require more trustee oversight and involvement than might be expected. University trustees carry fiduciary responsibilities to the students, government, and creditors as well as a certain moral responsibility to the faculty, staff, and a number of additional stakeholders.