ST. PAUL, Minn. (AP) — A bankruptcy judge has approved the sale of the chancery of the Archdiocese of St. Paul and Minneapolis to a Minnesota banker for nearly $3.3 million.
Attorney Katie Nath says the buyer is Donald Regan, chairman and founder of Maplewood-based Premier Banks. She says he was “more sad and sentimental than smart when it comes to this investment.” She says he was fearful that someone less friendly to the archdiocese would acquire the site, so he bought it. He has no immediate plans for it. The archdiocese retains use of the property until Nov. 30, and he’ll explore his options in the meantime.
The sale of the chancery brings total property sales in the bankruptcy case to more than $8 million, which will go to abuse victims and other creditors.
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