Crystal Cathedral Considering New Buyers
Crystal Cathedral is one step closer to having a new owner.
A bankruptcy judge on Tuesday allowed the Crystal Cathedral to consider new buyers for its 40-acre complex, according to the Los Angeles Times.
“There are other options out there which are viewed by the ministry and the creditors as being more favorable,” attorney Marc Winthrop, who represents the Crystal Cathedral, told the court.
The Times points to Monday bankruptcy filings that reveal the church is actively seeking other offers in addition to Greenlaw Partners, a real estate development firm and primary bidder.
The church, founded by Robert H. Schuller and known for its popular weekly televangelist series Hour of Power, filed for bankruptcy protection last October, claiming it owed more than $50 million to creditors and vendors.
Gina Meeks contributed to this report.
