Twenty-seven former employees have filed a $5 million lawsuit against the now-shuttered Concordia College in Bronxville over salary and benefits they say they're owed.

The lawsuit accuses the college of refusing to pay out the remaining part of their contracts and severance after closing in June. Instead, the college offered separation payments based on years of service if the faculty and staff agreed to release Concordia from all other claims for additional money.

"These people are out of work," says attorney Bob Bernstein. "They have contracts that need to be honored."

An attorney for Concordia tells News 12, "It's a very challenging situation to close a college but they tried to treat faculty and staff with dignity." The attorney did not comment on the actual lawsuit.

The New York Attorney General's Office and a judge ordered Concordia to set aside $3 million of the money it gets from selling its main campus to Iona College in order to handle the lawsuit if the employees win or settle.

"That provides us with some assurance that these people will get paid and get paid we hope in a timely manner," says Bernstein.

Bernstein says he's hopeful that he will get his clients the money they are owed by Christmas.