Showing posts with label bankruptcy. Show all posts
Showing posts with label bankruptcy. Show all posts

Saturday, May 28, 2011

Crystal Cathedral filed for bankruptcy protection from court

In Garden Grove, California, the Crystal Cathedral, founded by televangelist the Rev. Robert H. Schuller, filed for bankruptcy on Friday. The megachurch is looking to get out from under its debts by selling the church and grounds for a proposed $47 million from a local real-estate group.

Reportedly, the plan would allow the church to lease back most of its core buildings for the next 15 years, so congregants would not overtly notice a change in either worship or outreach services provided by the church.

The New York Theological Seminary is an institution dedicated to multiculturalism, diversity, social justice and religious tolerance. The mission of the seminary is to prepare men and women, from every background, for careers in ministry.