Crystal Cathedral Creditors Seek To Force Sale

Law360, New York (August 10, 2011, 5:26 PM EDT) -- Creditors threatening to force bankrupt Crystal Cathedral Ministries into a sale revealed in a disclosure statement Tuesday that the church had received a sweetened $53.6 million offer for its 35-acre Southern California campus.

Unsecured creditors also said they were investigating whether to sue church insiders for payments they allegedly should not have received. Such avoidance actions could include the church's founding pastor Rev. Robert Schuller, who used to deliver sermons in the church's televised "Hour of Power" and has filed a $1.4 million claim in the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.