Saturday, October 8, 2011

Crystal Cathedral Bankruptcy: Creditors Committee Sues Schullers

Crystal Cathedral founder the Rev. Robert H. Schuller and his family have been sued by creditors in the California megachurch's bankruptcy case, according to court documents made public by the Los Angeles Times Monday.

The bankruptcy sale of Crystal Cathedral, the glass-walled Orange County church known for its "Hour of Power" broadcasts, has touched off a bidding war between a Roman Catholic diocese and a local university. The church's ministry, meanwhile, has announced that its campus is not for sale and launched a pledge drive to keep the cathedral.

In a legal complaint dated Sept. 30, creditors allege that church administrators, including the Schullers, were borrowing money from Crystal Cathedral's Endowment Fund, therefore receiving good salaries even as the church was experiencing financial malaise. The Crystal Cathedral serves a congregation of more than 10,000 members and broadcasts “The Hour of Power,” the longest-running television church service.

Schuller and his relatives allegedly borrowed about $10 million from the Endowment Fund between 2002 and 2009.

Read the rest of the article at the Christian Post

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