Diocese Takes Over Crystal Cathedral For $57.5M

Law360, New York (November 18, 2011, 3:22 PM EST) -- A bankruptcy judge on Thursday approved the Diocese of Orange, Calif.'s $57.5 million bid to buy megachurch Crystal Cathedral, turning aside competing bids by a local university that wanted to develop the 40-acre property but offered the church's Protestant founders access to its structures. 

U.S. Bankruptcy Judge Robert N. Kwan signed off on the bid, capping the struggle in which the Garden Grove, Calif., cathedral's outgoing owners at one point pushed for a deal to sell the property to Chapman University but ultimately asked the judge...
To view the full article, register now.