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Salaries at issue as bank seeks megachurch receivership

from Kansas City Star

The bank that filed a foreclosure petition against First Family Church earlier this year now wants a receiver to take over church operations immediately. In a rare move, Regions Bank has asked a Johnson County District Court judge to appoint a receiver pending completion of the mortgage foreclosure proceeding, giving that person all necessary powers to manage the property. “I’ve never heard of a bank asking the court to come in and take over,” said Phill Martin, deputy chief executive of the National Association of Church Business Administration, a nonprofit based in Texas with more than 3,000 members. Such an action could have a huge impact on the church, Martin said. It can’t help but affect “people’s participation and their willingness to give.” But Martin said he also could understand why the bank was concerned. more

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