Catholic Diocese Tries to Block Crystal Cathedral Sale to University

Monday, 31 Oct 2011 05:45 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The Roman Catholic Diocese of Orange, Calif., has filed a petition in bankruptcy court to block the sale of the famed Crystal Cathedral’s 40-acre campus to Chapman University, stating that the plan will not pay creditors in full and will set up the ministry for failure.

The diocese's offer of $53.6 million is a better bid for the Crystal Cathedral property than the $50 million offered by Chapman University, its attorneys argue in the petition, according to the Orange County Register.

Last week, administrators at the bankrupt cathedral, which Robert H. Schuller founded, announced that their board had selected Chapman as the preferred buyer.

The difference between the two plans is that Chapman offers the church the option to lease back core church buildings and buy them back within five years, while the diocese's plan calls for a three-year leasing plan and proposes that the ministry move to an alternative worship space the diocese offered at a reduced rate, according to the diocese's petition.

Crystal Cathedral Ministries then would have the option to buy that property at 90 percent of the market rate, the filings state.

The diocese requests that the court order Crystal Cathedral and the creditors' committee to accept its offer rather than the Chapman offer or require the property to be sold via an auction.

Chapman officials were not available for comment to the Register.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Washington Museum Won't Give up Guns After All

Saturday, 22 Nov 2014 20:47 PM

A small museum in northwestern Washington state says it won't be removing all of the weapons from its World War II exhib . . .

State Senator Protesting Ferguson a Victim of Attempted Carjacking

Saturday, 22 Nov 2014 19:56 PM

A Missouri state senator and gun-control advocate who has protested police actions in Ferguson surrounding the Michael B . . .

FBI Arrests 2 Would-be Ferguson Bomb Suspects

Saturday, 22 Nov 2014 18:05 PM

Two men suspected of buying explosives they planned to detonate during protests in Ferguson, Missouri, once a grand jury . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved