A U.S. Bankruptcy Court judge has appointed an outside consultant to help oversee the management and disposal of property belonging to Greater Salem Church.

D. Gregory Cox, a commercial real estate broker with Bissell Companies, will advise the court-appointed restructuring officer overseeing the church’s bankruptcy case.

The restructuring officer, Robert E. Weld, filed papers with the court last week requesting help relating to two Greater Salem properties.

The first property, about 50 acres, is located off of Rozzelle’s Ferry Road. According to court documents, the land is under contract with a construction company that is removing soil for a road construction project. Weld told the judge he needed help to determine whether terms of the contract are being met and what affect the soil removal may have on the land’s value and salability.

The second property is a former Greater Salem Church on Old Statesville Road in Cornelius. Once used by the west Charlotte congregation as a second campus, it is now being leased to a private school and church congregation unrelated to Greater Salem.

Cox’s fees were not spelled out in the document. Weld said in the document he filed that compensation would be subject to approval by the court.

Rick Mitchell, the church’s bankruptcy lawyer, recently asked the judge to approve $14,400 in legal expenses. The judge recently approved A. Burton Shuford of the Bain Group law firm to serve as counsel for Weld, the restructuring officer.

Greater Salem, one of the oldest African American congregations in the Charlotte region, filed for Chapter 11 bankruptcy protection in November 2010 to avoid a foreclosure sale. The church had fallen behind on a $5 million loan from a California-based credit union.

The church’s co-pastors, Anthony and Harriet Jinwright, were sentenced to federal prison in December after being found guilty on multiple counts relating to tax evasion.

 Got news to share with Qcity readers? Email us at editor@qcitymetro.com.
Sign up for our weekly email newsletter below

Sign up for our Weekly Email Newsletter Email: For Email Marketing you can trust

Other Ways to Share Twitter Del.icio.us MySpace

Discussions and Submission Agreement