Catholic Church Bids For Crystal Cathedral
Seal Beach, CA Patch:
Hoping to convert the Crystal Cathedral to Catholicism, the Diocese of Orange has offered $50 million for the bankrupt glass church.
The all-cash bid, announced Friday, tops $46-million offers by Chapman University and Greenlaw Partners, a Newport Beach investment firm.
The diocese's proposal has been presented to attorneys for Crystal Cathedral Ministries as well as to the mega-church's board of directors, diocesan spokesman Stephen Bohannon said in a press release. From there, it will go before the U.S. judge and creditors group overseeing plans to steer Crystal Cathedral out of bankruptcy.