Bidders in line for Minnesota archdiocesan buildings
January 05, 2016
The Archdiocese of St. Paul-Minnesota is prepared to sell several buildings, if a bankruptcy court grants approval for the transactions.
The archdiocese-- which filed for bankruptcy protection in the wake of sex-abuse lawsuits-- plans to sell property in order to meet its financial obligations. The archdiocese reportedly has received a $4.5 million offer for an office building in St. Paul, and bids on other properties including the chancery building.
In November, a bankruptcy-court judge gave the archdiocese until May 31 to file a complete plan for financial reorganization. Until the plan is approved, property transactions would require court approval.
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Further information:
- Archdiocese has buyers, bidders for multiple properties (MPR)
- Fees surpass $5 million in Minnesota archdiocesean bankruptcy proceedings (CWN, 12/4/15)
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