The $52-million dream of San Diego evangelist...

The $52-million dream of San Diego evangelist Morris Cerullo to acquire the remains of the PTL television-park complex was put on hold this week as creditors of Jim Bakker’s former empire forced a delay in bankruptcy proceedings in Columbia, S.C.

Attorneys for PTL’s secured creditors could not agree on how to split the money the sale would generate, despite previous discussions and another 90 minutes of meetings Tuesday.

Under a plan proposed by PTL bankruptcy trustee Dennis Shedd, $44 million of the total purchase price would go toward paying the secured creditors and secured tax claims.

Shedd, who joined the creditors in seeking a postponement until Wednesday, vowed to sell off PTL’s assets piece by piece unless Cerullo’s offer or a better proposal is approved on that date.

U.S. Bankruptcy Judge Thurmond Bishop also indicated an unwillingness to drag out the case any longer.

“It’s time to bring this case to a conclusion. It’s been in the courts longer than I’ve been on the bench,” said Bishop, who assumed the case last year with the retirement of Judge Rufus Reynolds.

Cerullo’s attorney, Timothy Treadwell, said his client will withdraw from the bidding next week if competing offers are considered by the court.

Cerullo won court approval May 31 for the first part of the deal, his $7-million offer for the PTL satellite network.

The television network is the only part of Bakker’s former holdings that continues to make money, but Cerullo has visions of restoring the Heritage USA amusement park and retreat in Ft. Mill, S.C., to its former glory if the court accepts his offer of another $45 million for the remaining assets, including two luxury hotels, a television studio, a water park and 2,200 acres of prime undeveloped real estate.

During an Atlanta rally last week, Cerullo, head of San Diego-based Morris Cerullo Worldwide Evangelism ministry, said he wants to turn PTL into a base for an army of God to fight Satan.

Through a San Diego spokesman, Cerullo said the one-time PTL network would be integrated with his own, which airs eight hours of programs monthly to 33 sites in 11 countries.

MEETING

The 75th annual congress of the New Thought Alliance will open a six-day meeting Sunday at the Anaheim Marriott Hotel. Riane Eisler, author of “From the Blade to the Chalice: The Partnership Way,” and the Rev. Peggy Bassett, pastor of the Huntington Beach Church of Religious Science, are scheduled to speak at the opening session on Sunday at 7 p.m. The New Thought Alliance embraces metaphysical philosophies and churches with an eclectic approach to self-esteem and well-being.

DEDICATION

The United Church of Religious Science, one of the leading New Thought denominations, will hold the official opening and dedication of its home office building from 1 p.m. to 4 p.m. today at 3251 W. 6th Street in Los Angeles. The structure replaced an older building and stands adjacent to the Founder’s Church of Religious Science.