Orange, Calif., Nov 28, 2011 / 17:25 pm America/Denver (CNA).
The Diocese of Orange beat all odds in their winning bid for the Crystal Cathedral because their final offer was less than their competitor, says the Busch Firm, which represented the diocese in court.
“A true miracle!” said founder Tim Busch in reaction to the news.
The firm was shocked that the Crystal Cathedral Ministries board chose the diocese's $57.5 million offer for the bankrupt cathedral after Chapman University upped its bid to $59 million on Nov. 17.
Although bankruptcy Judge Robert N. Kwan allowed the board to choose from either offer, the majority of its members sided with the diocese since it would “protect the campus as a place of praise and worship and would provide a smoother transition,” the firm said.
The Crystal Cathedral purchase will close on Dec. 30, 2011 and is slated to meet the needs of the 1.2 million Catholics in Orange County—the 10th largest diocese in the nation.