Judge says Crystal Cathedral can seek buyers

AP News
Posted: Jul 13, 2011 9:56 AM
Judge says Crystal Cathedral can seek buyers

The Crystal Cathedral can seek new buyers as the Southern California landmark struggles to emerge from bankruptcy.

The Los Angeles Times reports a federal bankruptcy judge on Tuesday allowed the church to partially withdraw from a reorganization plan that would have sold the Garden Grove property to a real estate developer for $47 million.

There's been interest in the property from other organizations, including the Roman Catholic Archdiocese of Orange and Chapman University.

The Crystal Cathedral wants to sell its 40-acre property and lease back portions for use to erase nearly $50 million in mortgage and other debt.