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Resource ID: #20552
Subject: Bankruptcy
Source: Texas Monthly
Date: 1996-09-01


Flake tells the story of Great Hills Baptist Church in Austin, Texas -- a "megachurch" that grew too big for its britches. The church financed its growth through bonds, but eventually declared bankruptcy and pledged to pay back a portion of bondholders' investments. Story includes comments on financing churches through loans instead of bonds.

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