WINSTON-SALEM, N.C. (AP) - A judge says the foreclosure sale of a North Carolina church can proceed as planned after denying a motion that would have forestalled the sale.
The Winston-Salem Journal reports the sale of the Greater Cleveland Avenue Christian Church in Winston-Salem is scheduled for Friday. The church is one of Winston-Salem’s oldest African American churches, founded in 1893.
Federal bankruptcy Judge Catharine Aron announced the decision on Thursday after denying a church motion on Wednesday to modify its reorganization plan to help keep it in its building.
The church had asked Aron to modify its loan from Tennessee-based Apex Bank to provide more time to pay the $3.3 million it owed, but Aron said the church couldn’t afford the financing costs.
The church filed for Chapter 11 protection in April 2018.
___
Information from: Winston-Salem Journal, http://www.journalnow.com
Please read our comment policy before commenting.