Wednesday, August 5, 2015

Anglican Diocese of Christchurch cleared over cathedral funding breach

From New Zealand-

Christchurch's Anglican Diocese has avoided censure for incorrectly using funds from an insurance payout to help pay for the transitional cathedral.

A High Court judgment released on Wednesday said it was sufficient for the Church Property Trustees (CPT), which holds property on various trusts for the diocese, to repay the $4 million it used from the quake-damaged Christ Church Cathedral insurance payout to construct the new building near Latimer Square.

The CPT repaid the money with funds diverted from a trust account after an interim High Court judgment in 2012 said the $39m payout for the Christ Church Cathedral could only be utilised for work on the existing structure or its successor in the Square.

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