August 4, 2011
California: Crystal Cathedral Not for Sale
"The Crystal Cathedral Ministries board has decided not to sell the campus of the landmark Orange County church, as the ministry works to emerge from bankruptcy proceedings. Potential buyers, including the Diocese of Orange, had offered up to $50 million for the campus, which would have allowed Crystal Cathedral to pay its creditors in full. Instead, the church will try to raise the money through donations, its lawyer told a bankruptcy court on Monday. The church may have only about four months to do so while the creditors committee proceeds with its own plan for a sale of the church."
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