A bankruptcy judge on Tuesday approved Agape Christian Fellowship’s reorganization plan, which was helped by the $1 million the church received for the sale of land and mineral rights.
Mr. Hornbuckle is serving a 15-year prison sentence. The church is led by his wife, Renee Hornbuckle.
The church also settled lawsuits filed by several women who accused Mr. Hornbuckle of sexually assaulting them, but those deals were kept secret.
Church attorney Davor Rukavina said the unsecured creditors were offered the option of receiving 90 cents on the dollar in 10 days or 100 cents on the dollar plus interest by March 2009. He said that all of the creditors accepted the 10-day option.
He said Agape, which suffered from declining membership and donations because of the scandal, has emerged from court financially sound and with only the mortgage on its church building as long-term debt.