PTL Trustee Extends Bid Deadline, Says Bakker Lacks Funds
The PTL bankruptcy trustee Friday extended indefinitely the deadline to accept bids for the ministry and said Jim Bakker provided no proof he has the money to back up his $172-million offer to buy back the television network and religious theme park he founded.
Bakker left a two-hour meeting with trustee M. C. (Red) Benton at PTL’s executive offices behind two security guards. He told reporters: “We’re all working on it. It’s going good. It’s going great.”
Benton, however, said: “I think he’s exhausted . . . about all offers he can in this situation. Certainly we were not assured” that Bakker has the funds.
The trustee said the Friday afternoon deadline he had set to accept offers for the ministry has been extended indefinitely.
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