*The historic Charles Street AME Church’s lender argued in court today that the Roxbury congregation can’t avoid foreclosure by filing bankruptcy because it’s just an arm of the cash-rich African Methodist Episcopal movement, says the Boston Herald.
“Whose property is it anyway?” lawyer Lawrence Edelman, who represents Boston-based OneUnited Bank, asked in a hearing before U.S. Bankruptcy Court Judge Frank Bailey. “Very clearly, the beneficial interest in held by the greater church — the African Methodist Episcopal Church.”
The 194-year-old Charles Street congregation filed Chapter 11 in March to prevent OneUnited from seizing the church through a foreclosure auction.
Charles Street missed a $1.1 million “balloon” mortgage payment on the building in December, but has been locked in legal disputes with the bank over loans for years.
The church has proposed repaying the $1.1 million over the next three decades as part of a bankruptcy restructuring.
But OneUnited has asked Bailey to throw out the case because it believes the church is just a unit of the AME movement’s First District, which the bank claims has millions in assets.
Read more here.
- Terrence Howard’s Ex Sues 'Empire' Star for Assault and Defamation
- Cedric The Entertainer Celebrity Golf Classic Tees Off August 17
- Take a Special Look Inside the Making of 'Straight Outta Compton' (WATCH)
- Report: Leola Brown Thrown Out of Bobbi Kristina Funeral Services
- Lil Kim Claims Mr. Papers Was Physically Abusive
- Jill Scott Talks New Album 'Woman', Motherhood and Longevity
- Khloe Kardashian, Lamar Odom Officially End Their Marriage
- K. Michelle Performs at Sold Out Honey Jam Concert, Joined By 'Rebels'
- Browns Suspicious Houstons Will Sneak Pic of Bobbi Kristina's Body: Report
- DIY Zen Living: Make the Most of Whatever Outdoor Space You Have
- Discover More Stories on EURweb: Click Here