Los Angeles, California -- The Southern California megachurch Crystal Cathedral Ministries will enter bankruptcy, as it faces lawsuit-filing creditors and a rapid decline in donations because of the recession, church officials announced Monday.
An unspecified small number of creditors have sued the church and obtained writs of attachment, said church spokesman John Charles.
The church had sought a voluntary moratorium with vendors to allow "an equitable repayment plan" under the oversight of the Credit Managers Association of California, but negotiations didn't move fast enough to satisfy creditors, Charles said.
