School, Church Ask For Bankruptcy Mediation
07.12.12Filed Under: ECI News
Anderson Christian School and the Lindberg Road Church of Christ have asked for mediation in a complicated bankruptcy case stemming from a failed financing plan, where church leaders took out life insurance policies on 11 of their older members. The life insurance policies were to back a $2.5 million line of credit, taken out in 2007 to expand its child care center and remodel the school. On Tuesday, the school asked the court to order mediation between itself; the church, and the bank.
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