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What You Should Know / May 27, 2011

www.ocregister.com -- GARDEN GROVE Crystal Cathedral Ministries will sell its gleaming glass sanctuary and tower that have been an Orange County landmark for decades as a way to emerge from bankruptcy, pay its creditors and erase its $36 million mortgage, officials said Thursday. ... No details have been released about the purchase price or the identity of the investor. But Winthrop confirmed that "there is a buyer and a seller." The church owes about $7.5 million to unsecured creditors including many longtime vendors who provided services for its annual Christmas and Easter pageants.

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