Problem-Ridden Lawsuit over the Soper...

Problem-Ridden Lawsuit over the Soper Trust

There are 3 comments on the story from Oct 8, 2012, titled Problem-Ridden Lawsuit over the Soper Trust. In it, reports that:

The Episcopal Church's Diocese of Washington under the leadership of Bishop Mariann Edgar Budde continues its aggressive law suit against the powerful PNC Bank over the Soper Trust in a church attempt to take control away from the bank.

Recent court papers reveal unusual filing problems done by diocesan lawyers when twice in recent months ...

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“... truth will out.”

Since: May 08

Stratford, Connecticut.

#1 Oct 8, 2012
from virtueonline:

"The well-known financial difficulties of the Diocese of Washington seem to drive this law suit which seeks complete control over the Soper money ...

"Indeed, with the extreme financial shortfall in the Diocese of Washington, the sustainability of the institutions will be difficult. Currently the Soper Trust provides about one/third of the operating costs of the Diocese, a fact which has been well-documented in its budget and a fact which is controversial among many people in the diocese. Originally, the money was to be used for special projects, but when the Diocese began to experience financial problems, the money was used to pay salaries and other day-to-day expenses. A 2002 Diocesan Council voted to reaffirm that they did not want to use this money as part of the operating budget, yet from 2003 to the present day, this bequeathed money has been used for operating expenses.

"The Diocese of Washington states that they will keep the body of the money separate if they gain control of the trust, but if this happens, according to PNC Bank, no legal requirements will force them to do this. In filed legal documents, PNC Bank refers to the diocesan legal arguments as fiction' and a 'sleight of hand.'"
Listen to the Word

Kingman, AZ

#2 Oct 10, 2012
The Bible clearly says, "For wherever the carcase is, there will the eagles be gathered together!" TEC is a living tribute to the truthfulness of the Bible in this regard.

Since: Aug 09

Location hidden

#3 Oct 10, 2012
Listen to the Word wrote:
The Bible clearly says, "For wherever the carcase is, there will the eagles be gathered together!" TEC is a living tribute to the truthfulness of the Bible in this regard.
Aaaaaahh.... You're full of Baloney. You don't have a clue as to the meaning or the reference in that scriptural quote.

I don't care who these people are; high church, low church, in-between church, so-called orthodox or progressive..

Makes no difference.

What you probably have here is a Church operating with expenses greater than normal income, coupled with a group on the vestry who cannot make themselves live within their means.

Plain and simple.

Plus, if these are the ones whose buildings suffered damage in the recent earthquake, they probably can't fix the structure, for lack of adequate funds.

Washington-area spending habits.

Let PNC handle the money. Then, at least, you won't have the fox guarding the chicken coop.

Rev. Ken

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