A Tennessee megachurch has filed for bankruptcy and disclosed millions in debts, following scandal concerning Pastor Tavner Smith’s alleged sexual misconduct, federal court filings show.
Venue Church in Chattanooga filed for Chapter 11 bankruptcy Tuesday in U.S. Bankruptcy Court for the Eastern District of Tennessee. Its bankruptcy petition shows the church has more than $3 million in mortgage, auto loan, and credit card debt.
The church has less than $5 million in assets, even counting its $4.5 million church building, according to the filing.
Tom Bible, the attorney representing Venue Church in the bankruptcy, didn’t immediately respond when The Roys Report (TRR) asked why the church had decided to file for bankruptcy.
But the filing shows a massive drop in revenue over the last two years. And the bankruptcy filing puts a temporary stop to foreclosure proceedings on the Venue Church building, reported earlier by TRR.
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