The judge in the Charles Street African Methodist Episcopal church bankruptcy case rejected the historic congregation’s plan for financial reorganization, calling instead for a revised proposal while also dismissing bankers’ calls to simply foreclose on the church’s loans.
In a long-awaited decision, US Bankruptcy Judge Frank J. Bailey ruled that Charles Street’s proposed plan would leave the church “at best on the edge of insolvency for two decades — a congregation living for its debt,’’ according to court documents.
The judge suggested ways in which the church might resolve its debts, including repaying less than the full amount it owes and relinquishing properties it owns but can’t afford to renovate. Full story for BostonGlobe.com subscribers.
Beth Healy can be reached at Beth.Healy@globe.com.