Omega Management logo

Archdiocese of New Orleans property sales approved by judge | Business News

A federal bankruptcy court judge has approved the sale of two downtown property by the Archdiocese of New Orleans, which filed for Chapter 11 bankruptcy protection more than two years ago in the face of mounting lawsuits related to past child sex abuse.

U.S. Bankruptcy Court Judge Meredith Grabill approved the sales last week in advance of a hearing on the matter that had been scheduled for Nov. 17 but was canceled after neither side objected to the pending deals.

Grabill’s order means that the archdiocese can execute two purchase agreements with separate buyers it has lined up to acquire adjacent properties on the edge of the Central Business District.

One property is the 12-story office building at 1000 Howard Ave., which is under contract to a Lafayette developer. The other is the parking lot at 1032…

Read more…