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NWS - HB0612 - Madison Park - DK - 16

Madison Park Church of God counted on money from the sale of property like their former location on Scatterfield to pay a $5.8 million lump-sum payment on a loan it took out in 2007. Due to the recession's negative impact on property values and the real estate market the church will instead go through a Chapter 11 bankruptcy to reorganize their debt.

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