The Nation - News from Nov. 17, 1988

A bankruptcy judge in Columbia, S.C., ordered PTL sold to the highest bidder and told anyone who wants to buy the scandal-scarred ministry to bring a $1-million deposit to the auction today. U.S. Bankruptcy Judge Rufus Reynolds ordered the auction after ruling that two Canadian businessmen who had been considered the key contenders in the bidding war for the bankrupt ministry failed to meet conditions for a sale. Reynolds said anyone with an interest in buying PTL and its Heritage USA resort in South Carolina should show up with a $1-million deposit. PTL founder Jim Bakker has at least $1 million in a bank in Hendersonville, N.C., where an account was set up for followers to send money to help him buy the ministry back.