CLEVELAND -- Plans to reopen the International Preparatory School under a different name and sponsorship are now on hold, and the charter school's 800 students are being urged to enroll at other schools.

On Tuesday, The old school, which had been riddled with allegations of financial mismanagement, disbanded, and a new charter school, the Phoenix Village Academy, stepped in to service the students.

But enrollment stopped Thursday when officials with the new school learned they could possibly be responsible for the former school's debts and responsibilities.

Board Chairman George Frazier said everything is on hold until they get a ruling from the state attorney general on the matter.

Frazier is urging students to enroll elsewhere, as it is unclear when the ruling will be made.

Reports to newsnet5.com from a school employee who wishes to remain anonymous said that teachers have been notified to pick up their belongings.

The source also said the teachers were told at a meeting Wednesday that their contracts would not be honored.

Since the meeting, there has likely been a decision to close the school after all. Full details surrounding what happened with the new sponsorship by the Ashe Culture Center are sketchy.

State Auditor Betty Montgomery last week called for the school to close after releasing two audits that showed illegal spending of state money and poor accounting practices.