Church of England may be forced to sell some of its ancient cathedrals to cover their overwhelming debts

Jul 6, 2018 by

by Steve Doughty, Mailonline:

The Church of England may be forced to sell one or more of its ancient cathedrals because of their overwhelming debts, its leaders warned yesterday.

They fear bankruptcy courts will order the firesale of a cathedral if its dean and chapter reach the point where they cannot pay their bills.

Now bishops are to ask the Church’s parliament, the General Synod, to approve a new law to prevent any judge from responding to the financial crash of a cathedral by ordering a sell-off.

A high-level report to be presented to a meeting of the Synod on Tuesday said ‘serious fault lines’ have been found at Exeter and Peterborough cathedrals.

Bradford was close to entering an agreement with its creditors in 2000 and that there are ‘a large number of cathedrals under significant financial pressure’.

The CofE has 42 cathedrals, many of them of the first historic, architectural and cultural importance. Nine charge entrance fees, including £7.50 at Exeter.

Read here

 

Related Posts

Tags

Share This