Crystal Cathedral Ministries says in a response that the $3.5 million settlement the Schullers demand would leave the ministry virtually no funds to continue its ministry. Meanwhile vendors are still owed $12.5 million.
Category: Crystal Cathedral
But we have hand-selected 5 news stories from the past week that we think deserve a closer look.
The problem-plagued Crystal Cathedral has endorsed selling its sprawling campus to a university as part of a bankruptcy reorganization plan.
Under the plan, the church would be able to continue to use a number of buildings on the Garden Grove campus and possibly repurchase them at a later date.
>In the next month, about 400 creditors will vote on an exit strategy.
The Boulder, Colorado house where JonBenet Ramsey’s body was discovered 14 years ago is for sale again.
The house, purchased in 2004 by Crystal Cathedral founder Robert H. Schuller’s son-in-law, Tim Milner and daughter Carol Schuller Milner, has been listed at $2.3 million.
Bobby Schuller — the founder’s grandson — has established his own, more intimate church, seeking to evolve with the times.
Turns out positive thinking alone is not enough: Crystal Cathedral, the megachurch birthplace of the televangelist show “Hour of Power,” filed for bankruptcy Monday in Southern California after struggling to emerge from debt that exceeds $43 million.
Hundreds of creditors could be owed between $50 million and $100 million, according to documents filed in U.S. Bankruptcy Court in Santa Ana on Monday.
“They simply quit paying us,” said one vendor. “We’re all astounded by this.”