Wednesday, September 14, 2011

Bankruptcy court moves forward with Crystal Cathedral sale

Crystal cathedral
The judge in the Crystal Cathedral bankruptcy case agreed Wednesday to move forward with an exit plan that calls for the sale of the church’s iconic Garden Grove property.

According to the plan, prepared by the creditors committee, the top two contenders remain the Roman Catholic Diocese of Orange and Chapman University. But the committee is open to considering various offers, attorney Nanette Sanders told the court. 

“Everyone is looking to have a sale occur as soon as possible,” she said.

More than 400 creditors will now vote on the plan. The actual buyer then will be picked in joint cooperation between the committee and the church by Oct. 31.

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